The Small Business Association (SBA) announced this week that applications for the $28.6 billion Restaurant Revitalization Fund will open on Monday, May 3 at noon EST. Restaurants have been one of the hardest-hit industries during the COVID-19 pandemic, and this fund aims to help restaurants, bars, and related businesses who have been hit hard during the past 13 months.
Who is Eligible:
- Food trucks, food stands, food carts, snack and nonalcoholic beverage bars
- Brewpubs, tasting rooms, taprooms*
- Breweries and/or microbreweries*
- Wineries and distilleries*
*Onsite sales to the public must comprise at least 33% of gross receipts
How and When to Apply:
Eligible establishments can begin registering for the grant application portal on April 30 after 9 AM EST. Businesses are encouraged to register on Friday so they are prepared to submit the application on Monday. To prepare to apply, visit the SBA’s page.
Businesses can go through their point-of-sale (POS) restaurant partners including Clover, NCR Corporation, Square, and Toast, or apply directly through the SBA application portal. The SBA will accept all eligible applications beginning Monday, but the first 21 days will be devoted to processing + funding priority groups: women, veterans, or people from economically + socially disadvantaged groups.
You can reach out to the SBA for assistance preparing your application if needed. Call center support is available Monday – Friday from 8 AM – 8 PM EST) at 1-844-279-8898. You can also contact your local SBA District Office and utilize the SBA Knowledge Base.
What can grant funds be used for:
- Payroll costs
- Payments on any business mortgage obligation
- Rent payments
- Debt service
- Utility payments
- Maintenance expenses
- Construction of outdoor seating
- Supplies (including PPE and cleaning materials)
- Food + beverage expenses
- Covered supplier costs
- Operating expenses