April 17, 2021
SBA – Restaurant Revitalization Fund
The SBA just released a sample application for the Restaurant Revitalization Fund (RRF) and a program guide.
The SBA has not announced when they will begin accepting applications – today’s release is a sample application and guide so that restaurants can review and prepare.
Once the application portal opens up, the SBA will accept applications from all eligible applicants, however processing and funding for Day 1 – Day 21 will be designated for Priority Groups (see below). SBA will accept applications from all eligible applicants and process applications in the order in which they are approved by SBA.
The National Restaurant Association has reviewed early drafts of the application and discussed them with the SBA.
The National Restaurant Association’s FAQ document, updated April 9, 2021 gives helpful information.
Who can apply
Eligible entities who have experienced pandemic-related revenue loss include:
- Food stands, food trucks, food carts
- Bars, saloons, lounges, taverns
- Snack and nonalcoholic beverage bars
- Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
- Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
- Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
- Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
- Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
- Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
Cross-program eligibility on SBA COVID-19 relief options
A summary of the criteria to meet when considering different funding options can be found here.
SBA will accept applications from all eligible applicants, but only process and fund priority group applications. See “Priority groups” below.
During this period, SBA will fund applications where the applicant has self-certified that it meets the eligibility requirements for a small business owned by women, veterans, or socially and economically disadvantaged individuals.
- A small business concern that is at least 51 percent owned by one or more individuals who are:
- Women, or
- Veterans, or
- Socially and economically disadvantaged (see below).
- Applicants must self-certify on the application that they meet eligibility requirements
- Socially disadvantaged individuals are those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as a member of a group without regard to their individual qualities.
- Economically disadvantaged individuals are those socially disadvantaged individuals whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities as compared to others in the same business area who are not socially disadvantaged.