4.28.2021
Staff Contribution
The SBA has announced that the Restaurant Revitalization Fund (RRF) will begin registrations this Friday, April 30 at 9:00 AM. Applications will be opened on Monday, May 3 at noon.
The RRF will provide restaurants and other eligible businesses funding equal to their pandemic-related revenue losses–up to $10 million per business and no more than $5 million per physical location will be available to affected establishments.
The $28.6 billion program was created through the American Rescue Plan Act to help these businesses keep their doors open, bring jobs back, and revive the industry. The SBA will administer the funds to the hardest-hit small businesses.
Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. For additional information about the program please click here.
Who can apply?
- Restaurants
- Food stands, food trucks, food carts
- Caterers
- Bars, saloons, lounges, taverns
- Snack and nonalcoholic beverage bars
- Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
- Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
- Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
- Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
- Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
- Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
Please note, 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.
Upcoming webinars and resources to help you navigate the application process:
- In a recent blog, SCORE Mentor, Bill Cunningham examines how to calculate the potential for your RRF grant, what documents you’ll need, and how to get started. Read the full blog here.
- The SBA and Public Private Strategies (PPSI) Institute will host a national briefing today at 1:00 PM about the fund. To register, please click here. Following this announcement, there will be a training webinar at 2:30 PM. To register, please click here.
- SCORE will be hosting a webinar Friday, April 29 at 1:00 PM to walk through the grant application form step-by-step, wrapping up with a Q/A session. To register, please click here.
- Join the Cranberry Country, One SouthCoast, and Cape Cod Canal Chambers to hear from Dan Martiniello, Lender Relations Specialist of the SBA’s MA District Office, about eligibility and application guidance on Wednesday, May 5 at 10:00 AM. To register, please click here.
- Join the Massachusetts Small Business Development Center (MSBDC) for a presentation from Ili Spahiu, Lead Lender Relations Specialist, with the SBA MA District Office, for best practices when applying, on Thursday, May 13 at 1:00 PM. To register, please click here.
