The $28.6 billion Restaurant Revitalization Fund (RRF) is expected to begin accepting applications soon. The Small Business Administration (SBA) will administer the RRF and provide the grants, which are intended to cover a business's total pandemic-related revenue losses.
Please read our most recent summary for full details about the RRF.
Eligible restaurants, bars, breweries, wineries, distilleries and other eligible types of businesses should prepare to file once the program launches. The fund is expected to be exhausted quickly.
For the first 21 days of the RRF, the SBA will only process and fund applications where the applicant is a small business that is at least 51 percent owned and controlled by women, veterans or socially and economically disadvantaged individuals. However, every eligible business should strive to submit its application on day one.
Recent guidance and the form of application released by the SBA updated several key details of the RRF, including:
- Clarified the calculations used to determine grant size;
- Specified that the minimum grant amount is $1,000;
- For breweries, wineries, distilleries, brewpubs, tasting rooms, taprooms, bakeries and inns, added a requirement that on-site sales exceed a specified minimum percentage of 2019 gross receipts;
- Defined the scope of eligible expenses;
- Extended the date by which recipients must use the grant proceeds; and
- Described the documentation requirements and the application process.
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