Monday, May 17, 2021

Webinar on SBA Restaurant Revitalization Fund to be Held May 12

By on May 4, 2021

Birling Capital, Puerto Rico CofC and SBA Offer Guidance on Pandemic Relief

SAN JUAN — With the purpose of supporting restaurants that suffered economic losses during the COVID-19 pandemic, Birling Capital Advisors and the Puerto Rico Chamber of Commerce, with the support of the Small Business Administration’s (SBA) Puerto Rico and U.S. Virgin Islands District Office will conduct a free webinar Wednesday, May 12, from 10 a.m. to 12 p.m. via Zoom.

Webinar participants will learn important details about the American Revitalization Plan Act (ARPA) that established the Restaurant Revitalization Fund (RRF). This program will provide restaurants with funding equal to their pandemic-related revenue loss, up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay if the funds are used for eligible uses no later than March 11, 2023.

“We think that restaurants and bars are staple businesses and they have suffered significant losses due to COVID-19, and unfortunately, many have had to close operations, fire employees or reduce their offerings. We have created this free-of-charge webinar to provide restaurant owners with details on how to apply for this emergency fund that can help them recover their losses. In addition, Birling is committed to advising them on how to face this big challenge,” said Francisco Rodríguez-Castro, president and CEO of Birling Capital, which offers consulting services to institutional, government, corporate, middle-market companies, family corporations and their owners.  


Speaking alongside Rodríguez-Castro at the webinar will be Josué E. Rivera, SBA district director, Puerto Rico and USVI; Jorge Betancourt, economic development specialist/ Puerto Rico Small Business Development Centers project officer, SBA Puerto Rico and USVI; and Juan Carlos Agosto Martínez, president, of the Puerto Rico CofC.

“In our quest to offer our members and entrepreneurs on the island the most effective support in these times of crisis, we are pleased to offer this webinar in a joint venture with Birling Capital and with SBA support. Certainly, this economic sector in Puerto Rico has suffered great losses because of COVID-19 and programs such as the SBA RRF will help entrepreneurs to move forward. We reaffirm our commitment with our members and with Puerto Rico,” added the CofC’s Agosto.  

The program’s guidelines are available on the SBA’s website, here: Restaurant Revitalization Fund program. Restaurants must apply within the 21-day window offered to disadvantaged communities as the funds are available on a first come, first serve basis.

Webinar registration is available at https://qrgo.page.link/ZcH4W. The link will be sent the day before the event. For more information, call 787-721-6060, ext. 2241, or write to fmartinez@camarapr.net.