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Restaurant Revitalization Fund
The restaurant industry has been among the hardest-hit sectors during the economic downturn caused by the COVID-19 pandemic. To help bring jobs back and revive the industry, the American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open.
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 the funding as long as funds are used for eligible uses no later than March 11, 2023.
Who can apply:
The following entities who have experienced pandemic-related revenue loss are eligible:
Food stands, food trucks, food carts
Bars, saloons, lounges, taverns
Snack and non-alcoholic beverage bars
Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
The following entities, where onsite sales to the public comprise at least 33 percent of gross receipts:
Brewpubs, tasting rooms, taprooms
Breweries and/or microbreweries
Wineries and distilleries
When to apply:
The Restaurant Revitalization Fund will open on Monday, May 3 at noon ET. Restaurant operators can begin the registration process starting on Friday, April 30 at 9:00 a.m. ET.
For the first 21 days the program is open, the SBA will prioritize reviewing applications from small businesses owned by women, veterans and socially and economically disadvantaged individuals. (Following the 21 days, all eligible applicants are encouraged to submit applications.)
How to apply:
You can apply directly through the SBA in a forthcoming online application portal at https://restaurants.sba.gov or you can contact our firm for details on our application assistance program.
For complete details on the SBA’s Restaurant Revitalization Fund, visit https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund
Please let us know if you have any questions. We’re here to help.