Applications are now open for restaurants and other eligible businesses that have been impacted by COVID-19. The Restaurant Revitalization Fund (RRF) was established under the American Rescue Plan Act and provides up to $10 million per business and no more than $5 million per physical location for pandemic-related revenue loss. Businesses will not have to repay funds as long as they are used for eligible expenses no later than March 11, 2023.
Eligible businesses that have experienced revenue loss due to the pandemic include but is not limited to restaurants, food stands, food trucks, food carts, caterers, bars, bakeries, breweries, wineries and more.
Businesses receiving the funds must use the funds for specific expenses, no later than March 11, 2023, to avoid repayment. These approved expenses include business payroll costs (including sick leave), payments on business mortgage obligations, business rent payments (not including prepayment of rent), business debt service, business utility payments, business maintenance expenses, construction of outdoor seating, business supplies (including protective equipment and cleaning materials), business food and beverage expenses, covered supplier costs and business operating expenses.
Applications may be submit at https://restaurants.sba.gov or through an SBA-recognized Point of Sale (POS) vendor. POS vendors include Square, Toast, Clover NCR Corporation (Aloha), and Oracle. View a sample of the application to assist with application preparation here.
For complete details and updates regarding the RRF, including a list of required documentation for application, visit the SBA website.