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 $5 million per physical location. Eligible entities who have experienced pandemic-related revenue loss include: Restaurants Food stands, food trucks, food carts caterers, bars, saloons, lounges, taverns, and others. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.
The SBA has published a program guide and sample application and will open the application process soon. For more information go to www.sba.gov select “Learn More” on the yellow bar across the top of the page, then select Restaurant Revitalization Fund.