SBA Announces Application Opening for $28.6 Billion Restaurant Revitalization Fund
On April 27, the U.S. Small Business Administration (S.B.A.) announced it will begin registrations on Friday, April 30, 2021, at 9 a.m. and open applications on Monday, May 3, 2021, at noon for the Restaurant Revitalization Fund (RFF). 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.
SBA is hosting three live recorded virtual training webinars.
- Tuesday, April 27 | 2:30 p.m. EDT | Register here
- Wednesday, April 28 | 1 p.m. EDT | Register here
- Wednesday, April 28 | 2:30 p.m. EDT | Register here
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.
Details on application requirements, eligibility, and a program guide are now available in English at www.sba.gov/restaurants or in Spanish at www.sba.gov/restaurantes.