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Diverse Business Owners Industry Updates Food Service Industry Updates Franchising Industry Updates

RRF Relief Begins Arriving on Main Street

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Sixteen thousand restaurants and other food and beverage businesses across the nation began to see Restaurant Revitalization Funds (RRF) arrive in their bank accounts starting today. This first round of funding represented more than $2 billion of relief awarded since the program’s launch, the Small Business Administration (SBA) said.

“Just one week after launching the $28.6 billion Restaurant Revitalization Fund, I am pleased to officially report that the SBA has begun to fund applications,” said SBA Administrator Isabella Casillas Guzman. “We know that this help is urgently needed by so many who have suffered disproportionately from this pandemic and have often been unable to access relief. Restaurants are the core of our neighborhoods and propel economic activity on Main Streets across the nation. The SBA is here to help them build resilience to survive this pandemic as we get our economy back on track.”

Restaurants are eligible for funding equal to their pandemic-related revenue losses, capped at $10 million per business and $5 million per location. The SBA will continue to fund approved applications until all funds have been exhausted. SBA has prioritized a customer-centric approach to the delivery of economic aid, eliminating cumbersome application requirements, streamlining the application process, and by partnering with point-of-sale (POS) vendors to provide seamless ways to apply to the RRF.

Following the 21-day priority period, all eligible applications will be funded in the order in which they were received. SBA said that although it plans to continue accepting applications from eligible establishments until funds are exhausted, the number of applications received so far could exhaust the funds authorized to fund the RRF.

Interested food establishments may still apply through SBA-recognized POS vendors or directly via the SBA online application portal.

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