Small Business Administration Restaurant Revitalization Fund

Mike Seals - May 7, 2021 1:36 pm

 

The Restaurant Revitalization Fund provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19. Registration for the SBA application portal is now open.

For the first 21 days of the program, the SBA will fund applications where the applicant has self-certified that it meets the eligibility requirements for a small business owned by women, veterans, or socially and economically disadvantaged individuals.

The application and full details are available on the SBA’s Restaurant Revitalization Fund webpage.

Program Details

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.

Who Can Apply

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

Apply with the SBA on the Restaurant Revitalization Fun webpage.

 

Latest Stories

OSU Extension Offers Quick Guide to Winter Pruning

Stop Before You Lop: a quick guide to winter pruning – To prune or not to...

OKCPD Seizes Over 123lbs. of Methamphetamine During Traffic Stop

OKLAHOMA CITY, Okla. (KOKH) — On Sunday, officers with the Oklahoma City Police Department and deputies with...

Oklahoma Death Row Inmate Says His Father Killed OU Student

OKLAHOMA CITY (AP) — An Oklahoma death row inmate convicted of raping and killing a University...