SBA – Announcement RRF Restaurant Revitalization Fund
News from: SCORE Coachella Valley
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.
Eligible entities who have experienced pandemic-related revenue loss include:
Restaurants
Food stands, food trucks, food carts
Caterers
Bars, saloons, lounges, taverns
Snack and nonalcoholic beverage bars
Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
Licensed facilities or premises of a beverage alcohol producer where the public may taste sample or purchase products
Through the telephone at (844) 279-8898 (Telephonic applications will have longer processing times)
SBA may provide funding up to $5 million per location, not to exceed $10 million total for the applicant and any affiliated businesses.
The minimum award is $1,000.
PRIORITY PERIOD DAYS 1 THROUGH 21
SBA will accept applications from all eligible applicants, but only process and fund priority group applications. (Women, veterans, and Socially and economically disadvantaged. (More info on www.sba.gov)
OPEN TO ALL APPLICANTS DAYS 22 THROUGH FUNDS EXHAUSTION
SBA will accept applications from all eligible applicants and process applications in the order in which they are approved by SBA.
