Restaurant Revitalization Fund: Registration Opens April 30

Restaurant Revitalization Fund

Written by Jeff Dvorachek

April 29, 2021

The U.S. Small Business Administration will begin registrations on Friday, April 30, 2021, at 9 a.m. EDT and open applications on Monday, May 3, 2021, at noon EDT for the Restaurant Revitalization Fund (RRF). The online application will remain open to any eligible establishment until all funds are exhausted.

The American Rescue Plan Act established the 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 $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.

Eligibility

Please note that eligibility extends beyond restaurants to food stands, food trucks, food carts; caterers; bars, saloons, lounges, taverns; snack and nonalcoholic beverage bars (e.g., coffee shops, ice cream shops); and the following if their sales of food and beverages to the public exceed 33%: bakeries; brewpubs, tasting rooms, taprooms; breweries and/or microbreweries; wineries and distilleries; inns; 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.

How to Apply

In preparation, the SBA recommends qualifying applicants familiarize themselves with the application process in advance to ensure a smooth and efficient application experience.

  • Register for an account in advance at restaurants.sba.gov starting Friday, April 30, 2021, at 9 a.m. EDT.
  • Review the official guidance, including program guide, frequently asked questions, and application sample.
  • Work with a point-of-sale vendor or visiting restaurants.sba.gov to submit an application when the application portal opens. [Note: If an applicant is working with a point-of-sale vendor, they do not need to register beforehand on the site.]

More Information

The SBA encourages applicants to either attend a live virtual training webinar or view the recording of the event.

The webinars are limited to the first 20,000 registrants, however, both will be recorded and later posted on SBA’s YouTube channel.

Register for one of the webinars below:

Contact us for more information about your situation or for more information on the Restaurant Revitalization Fund.

More Resources

 

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Jeff Dvorachek
I joined Hawkins Ash CPAs in 1998. I am the partner-in-charge of the Manitowoc, WI, office and tax director for the firm. I have thorough experience providing tax services to individuals, commercial businesses, nonprofit entities and estates and trusts. I also provide compilation and review services. I lead the Tax Committee and am a member of the Information Technology Advisory Committee.

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