Food and beverage businesses can begin submitting applications for the Restaurant Revitalization Fund on May 3 at 11 a.m., the U.S. Small Business Administration announced Tuesday.
Applicants are encouraged to get a head start on the process by registering here for the application portal, beginning April 30 at 8 a.m.
The $28.6 billion RRF was established by the federal government’s American Rescue Plan to help restaurants, bars, cafés, bake shops, brew pubs, wineries, food trucks and other food-related businesses recover from revenue loss due to the COVID-19 pandemic.
The online application will remain open to any eligible establishment until all funds are exhausted. For the first 21 days, the SBA will prioritize applications from businesses owned by socially and economically disadvantaged individuals, women, and veterans. Following that period, all eligible applications will be funded on a first-come, first-served basis.
Once a business receives its grant, funding must be used for eligible uses no later than March 11, 2023. Eligible uses range from payroll expenses to construction of outdoor seating.
The SBA also announced three free webinars — April 27 at 1:30 p.m., and April 28 at noon and 1:30 p.m. — for operators interested in learning more about the RRF and how to apply.
Separately, the SBA’s Wisconsin District Office has more free webinars scheduled on April 28 at 1 p.m. and April 30 at 10 a.m. Webinars in Spanish and in Hmong will take place May 5 at 5 p.m. and May 3 at 4 p.m., respectively. A new one-page overview of the grant program is now available in 17 languages.
According to a news release, the SBA continues to take steps to ensure the equitable distribution of relief, particularly for the smallest businesses, by setting aside $9.5 billion of the $28.6 billion fund. $5 billion will be used for applicants with 2019 gross receipts of no more than $500,000; $4 billion for applicants with 2019 gross receipts from $500,001 to $1.5 million; and $500 million for applicants with 2019 gross receipts of no more than $50,000.
“Restaurants are the core of our neighborhoods and propel economic activity on main streets across the nation,” said Isabella Casillas Guzman, SBA administrator. “The SBA has focused on the marketplace realities of our food and beverage businesses in designing the Restaurant Revitalization Fund to meet businesses where they are. And we are committed to equity to ensure our smaller and underserved businesses, which have suffered the most, can access this critical relief, recover, and grow more resilient.”
