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The Small Business Administration (SBA) has released information on the Restaurant Revitalization Fund (RRF) program. This program was established under the American Rescue Plan Act. This program is awarding funding to restaurants, bars, and other similar places of business that serve food or drink. The purpose of the funding is to provide support to eligible entities that suffered revenue losses related to the COVID-19 pandemic. The program has been appropriated $28.6 billion for the SBA to award funds nationwide.

The SBA will start accepting applications for RRF on Monday, May 3 at 11am. However, they have released information to help businesses prepare their application. Businesses can review the sample application, program guide and cross-program eligibility chart on SBA COVID-19 relief options. All information can be found on the website through this link: https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund . For the first 21 days that 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-day period, all eligible applicants are encouraged to submit applications.

Eligible entities under this program are for-profit businesses that are not permanently closed and include businesses where the public or patrons assemble for the primary purpose of being served food or drink including:
• Restaurants
• Food stands, food trucks, food carts
• Caterers
• Bars, saloons, lounges, taverns
• Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
• Bakeries
• Brewpubs, tasting rooms, taprooms
• Wineries and distilleries

Please refer to the program guide on the SBA website noted above for a full list of eligibility guidelines. As part of the outreach and training on how to apply, DCEO Team RED has partnered with SBA representative Darrah Perryman to set up the following webinars to provide information on this program:

 

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