‘Help Is Here’: Starting Monday, Businesses Can Apply for RRF Relief
The U.S. Small Business Administration (SBA) today announced it will begin taking registrations on Friday, April 30, and applications will be accepted beginning the following Monday, May 3, for the $28.6 billion Restaurant Revitalization Fund (RRF). The online application will remain open to any eligible establishment until all funds are exhausted.
The program will provide restaurants with funding equal to their pandemic-related revenue losses of up to $10 million per business and no more than $5 million per physical location. Funds must be used for allowable expenses by March 11, 2023.
“Restaurants are the core of our neighborhoods and propel economic activity on main streets across the nation,” SBA Administrator Isabella Casillas Guzman said. “They are among the businesses that have been hardest hit and need support to survive this pandemic. We want restaurants to know that help is here.
“The SBA has focused on the marketplace realities of our food and beverage businesses in designing the Restaurant Revitalization Fund to meet businesses where they are,” she continued. “And we are committed to equity to ensure our smaller and underserved businesses, which have suffered the most, can access this critical relief, recover and grow more resilient.”
The SBA urged businesses to familiarize themselves with the application process in advance to ensure a smooth and efficient application experience. It recommended that they:
- Register for an account in advance at restaurants.sba.gov starting Friday at 9 a.m. (Eastern);
- Review the official guidance, including program guide, FAQs and application sample;
- Prepare the required documentation;
- Work with a point-of-sale vendor or visit restaurants.sba.gov to submit an application when the application portal opens. (If an applicant is working with a point-of-sale vendor, they do not need to register beforehand on the site. Click here for a related article.); and
- Attend a virtual training webinar. They can register here.
“We engaged with diverse stakeholders in the food industry community to make sure we built and delivered the program equitably, quickly and efficiently.”
For the first 21 days that the program is open, the SBA will prioritize funding applications from businesses owned and controlled by women, veterans, and socially and economically disadvantaged individuals. All eligible applicants are encouraged to submit applications as soon as the portal opens. Following the 21 days, all eligible applications will be funded on a first-come, first-served basis.
“Recognizing the great urgency to help restaurants keep their doors open — and with a clear mandate from Congress — the SBA worked at a breakneck speed and is excited to launch this program,” said Patrick Kelley, SBA associate administrator in the Office of Capital Access. “From day one, we engaged with diverse stakeholders in the food industry community to make sure we built and delivered the program equitably, quickly and efficiently.”
For more information, visit sba.gov/restaurants.