SBA Restaurant Revitalization Grant Fund Opens
The SBA Restaurant Revitalization Fund (RRF) grant is now open. The RRF is a $28.6B grant program for restaurant and food service businesses that will award up to a $10M grant per business.
Below are highlights of the grant as well as eligible expenses. Additional details, a sample application and documentation requirements are here. Please take a look to see if your business qualifies, then apply here.
Grant Highlights:
The $28.6 billion Restaurant Revitalization Fund (RRF) is a grant program administered by the SBA intended to help businesses in the food services sector.
Eligible entities include restaurants, food stands, food trucks, food carts, caterers, bars, saloons, lounges, taverns, licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products, other similar places of business in which the public or patrons assemble for the primary purpose of being served food or drink, snack and nonalcoholic beverage bars, bakeries, brewpubs, tasting rooms, taprooms, breweries and/or microbreweries, wineries and distilleries, and inns.
The act allows for grants equal to the pandemic-related revenue loss of the eligible entity, up to $10 million per entity, or $5 million per physical location.
The grants are calculated by subtracting 2020 revenue from 2019 revenue.
Entities are limited to 20 locations.
During the first 21 days of the grants, the SBA will prioritize processing applications from restaurants owned and operated or controlled by women, veterans, or socially and economically disadvantaged individuals. All applicants can still apply during this period.
Eligible Expenses:
Business payroll costs (including sick leave)
Payments on any business mortgage obligation
Business rent payments (note: this does not include prepayment of rent)
Business debt service (both principal and interest; note: this does not include any prepayment of principal or interest)
Business utility payments
Business maintenance expenses
Construction of outdoor seating
Business supplies (including protective equipment and cleaning materials)
Business food and beverage expenses (including raw materials)
Covered supplier costs
Business operating expenses