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.
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:
- Food stands, food trucks, food carts
- Bars, saloons, lounges, taverns
- Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
- 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.
On April 27, 2021 the SBA Administrator Isabella Casillas Guzman announced the U.S. Small Business Administration will begin registrations on Friday, April 30, 2021, at 9 a.m. EDT and open applications on Monday, May 3, 2021, at noon EDT for the Restaurant Revitalization Fund. The online application will remain open to any eligible establishment until all funds are exhausted.
In preparation, the SBA recommends qualifying applicants familiarize themselves with the application process in advance to ensure a smooth and efficient application experience, specifically by:
- Registering for an account in advance at sba.gov starting Friday, April 30, 2021, at 9 a.m. EDT.
- Reviewing the official guidance, including program guide, frequently asked questions, and application sample.
- Preparing the required documentation.
- Working with a point-of-sale vendor or visiting sba.gov to submit an application when the application portal opens. [Note: If an applicant is working with a point-of-sale vendor, they do not need to register beforehand on the site.]
- Attending a virtual training webinar.
As part of the outreach and training on how to apply, DCEO Team RED has partnered with SBA to set up the following webinars to provide information on this program:
Date and Time: Wednesday, April 28, 2021 at 11:00 am CST (Chicago, GMT-05:00)
Date and Time: Thursday, April 29, 2021 at 10:30 am CST (Chicago, GMT-05:00)
Date and Time: Thursday, April 29, 2021 at 12:00 pm CST (Chicago, GMT-05:00)
Date and Time: Wednesday, May 5, 2021 at 12:00 pm CST (Chicago, GMT-05:00)
Date and Time: Thursday, May 6, 2021 at 3:00 pm CST (Chicago, GMT-05:00)