The U.S. Small Business Administration’s Restaurant Revitalization Fund (RRF), established by the American Rescue Plan Act, has begun accepting applications from eligible food and beverage establishments that have been adversely impacted by the COVID-19 pandemic. 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.
Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. With the amount of demand that has already been reported, some are speculating that available funds could be exhausted within a matter of weeks. If you or someone you know owns a food / beverage establishment that was adversely impacted by the COVID-19 pandemic, please visit the SBA website to learn more. Note that priority consideration is given to veteran-owned, woman-owned and minority-owned businesses. A full list of eligible businesses may be found on the SBA website.
