The SBA has started accepting applications for the Resturant Revitilization Fund as of noon today.
For the first 21 days, the SBA will prioritize funding applications from businesses owned and controlled by women, veterans, and socially and economically disadvantaged persons. After 21 days, all eligible applications will be funded on a first-come, first-served basis, so I encourage you to submit an application as soon as possible if you would like to take advantage of this opportunity.
The SBA’s restaurant revitalization program provides funding equal to pandemic-related revenue losses up to $10 million per business and no more than $5 million per physical location. Funds must be used for allowable expenses by March 11, 2023.
Despite the name, RRF funding is available to any place of business where the public or patrons assemble for the primary purpose of being served food or drink, including:
- Restaurant, Food Stand, Food Truck, Food Cart
- Snack and Nonalcoholic Beverage Bar
- Bar, Lounge, Saloon, Tavern
- An Inn
- Brewery, Brewpub, Microbrewery, Taproom, Tasting room
- Winery or Distillery
- Other similar place of business in which the public or patrons assemble for the primary purpose of being served food or alcohol.