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$28.6 Billion RRF Opens TODAY

$28.6 Billion RRF Opens TODAY

This communication has time sensitive information on the $28.6 billion SBA Restaurant Revitalization Fund (RRF). According to IFMA, funding will go quick so please submit your application timely to ensure access to funds.

What is the SBA Restaurant Revitalization Fund

  • Delivers emergency assistance for eligible restaurants, bars, food trucks, caterers, snack bars, inns and other qualifying businesses impacted by COVID-19
  • Provides 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
  • Does not require repayment as long as the funds are used for eligible costs no later than March 11, 2023
  • Accepts applications from all eligible applicants on May 3, but will only process for priority group applications for first 21 days:
    • Days 1 – 21: Applications processed and funded for priority group including small businesses owned by women, veterans, or socially/economically disadvantaged individuals
    • Days 21 – Fund Exhaustion: Applications accepted for all eligible applicants and processed in the order in which they are approved by SBA
  • Allows spending on payroll, mortgage, rent, utilities, food & beverage, maintenance, outdoor seating, supplies, PPE …

What are the steps you should take

SBA Application Registration – Opens Friday, April 30, 2021

SBA Application Process – Opens Monday, May 3, 2021

SBA Optional Information Webinars – Tuesday, May 4, 2021

 

Below are other links for additional information and guidance on the RRF:

 

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The applications for the $28.6 billion SBA Restaurant Revitalization Fund (RRF) are now open.