4/30/2021

Restaurant Revitalization Fund (RRF) 

$28.6 Billion

The U.S. Small Business Administration will begin registrations today 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. The online application will remain open to any eligible establishment until all funds are exhausted.  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. Funds must be used for allowable expenses by March 11, 2023.

Register now:  Create a username and password here:  https://restaurants.sba.gov/

IF you are working with Toast or Square as your POS vendors, you do not need to register on the restaurants.sba.gov portal.

Webinar Primer:  If you were unable to attend one of the webinars held earlier this week by the SBA, which covered RRF program details and a demonstration of the application portal, you can watch the recording here.  https://youtu.be/fxi3EcB_BZ4

Applicants should familiarize themselves with the program and application process in advance to ensure a smooth and efficient application experience, specifically by:

Reviewing the official guidance, including program guide, frequently asked questions, and application sample.

Preparing the required documentation (scroll down to “How to Apply, Additional Documentation Required.)

BE PREPARED WITH YOUR DOCUMENTATION NEEDED TO APPLY AT 12N ON MONDAY 5/3/2021.

If you are prepared prior to Monday, 12:00 noon and have your documents ready as PDFs to upload, the application will take you approximately 25 minutes.  Here are screenshots of the portal.

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.

SBA Set asides

$5 billion is set aside for applicants with 2019 gross receipts of not more than $500,000

An additional $4 billion is set-aside for applicants with 2019 gross receipts from $500,001 to $1,500,000

An additional $500 million is set-aside for applicants with 2019 gross receipts of not more than $50,000

*SBA reserves the right to reallocate these funds at the discretion of the Administrator.ba