The American Rescue Plan Act provided funding for SBA to assist restaurants, bars and other similar businesses that were hit hard by the COVID-19 emergency. SBA issued a press release that announced the official Restaurant Revitalization Fund (RRF) Application and Guidelines. Click here to read the press release.
The U.S. Small Business Administration (SBA) is awarding funding through the Restaurant Revitalization Program to restaurants, bars, and other similar places of business that serve food or drink. The purpose of this funding is to provide support to eligible entities that suffered revenue losses related to theCOVID-19 pandemic.
On March 11, 2021, the American Rescue Plan Act (ARPA) became public law (P.L. 117-2). Section 5003 established the Restaurant Revitalization Fund (Fund), and appropriated $28.6 billion for SBA to award funds. These appropriations remain available until expended. SBA will continue accepting applications subject to availability of funds.
Fund must be used for eligible uses no later than March 11, 2023. Access SBA’s webpage on the Restaurant Revitalization program here.
While SBA is not yet taking applications, the website provides the most current details, including a program guide. SBA lenders are not involved in processing these applications. Applicants will apply through SBA Restaurant Partners, or directly through SBA.
Eligible entities who have experienced pandemic-related revenue loss include:
- Food stands, food trucks, food carts
- 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.
Please refer to the SBA website for the program details as that is the best source for up-to-date information for eligible entities interested in the RRF.