Insights: Alerts Small Business Administration’s $28.6 Billion Restaurant Revitalization Fund
Qualifying restaurants, bars, and related small businesses that serve food or drink are eligible to receive up to $10 million in grant funding under the $28.6 billion Restaurant Revitalization Fund (RRF). The U.S. Small Business Administration (SBA), which administers the RRF, is now accepting applications for the Fund. The RRF application portal and additional information on the RRF can be found here: Restaurant Revitalization Fund (sba.gov).
Entities eligible to receive RRF grant funding:
- Eligible entities include non-publicly traded restaurants, food stands, food trucks, food carts, caterers, bars, saloons, lounges, taverns, and similar places of business in which the public or patrons assemble for the primary purpose of being served food or drink.
- Certain bakeries, brewpubs, tasting rooms, taprooms, breweries, microbreweries, wineries, distilleries, inns, and related small businesses whose “on-site sales of food and beverage to the public” constitute at least 33% of their annual gross receipts may also qualify for RRF funding.
- Eligible applicants also include any of the above types of entities located in an airport terminal, that operate independently inside another business, or that are a Tribally-owned concern.
- Qualifying entities operating under a franchise may be eligible so long as the franchise is listed on the SBA Franchise Directory or provides certain required SBA documentation.
Funding awards and eligible uses:
- RRF grants provide funding to qualifying entities in amounts “equal to pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location.”
- Awarded funding may be used for qualifying expenses incurred between February 15, 2020, and March 11, 2023. These expenses include, but are not limited to:
- business payroll costs; payments on any business mortgage obligation; business rent payments; business debt service; business utility payments; business maintenance expenses; construction of outdoor seating; business supplies (including protective equipment and cleaning materials); business food and beverage expenses; covered supplier costs; and business operating expenses.
As stated, additional information on the RRF can be found at https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund. If you have any questions concerning the RRF or other federal small business programs, please do not hesitate to reach out to Kilpatrick Townsend’s Government Relations team contacts John Loving at email@example.com or Stephen Anstey at firstname.lastname@example.org.
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