Get Ready for Restaurant Relief!

Having trouble viewing this email? View it as a Web page.

St. Louis District Office  

April 2021

u s small business administration
Open for Business

The Restaurant Revitalization Fund is Coming Soon!

The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. 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.

The official application launch date will be announced soon. Prior to the launch, the SBA will establish a seven-day pilot period for the RRF application portal by randomly selecting existing PPP borrowers (these participants will not receive funds until the application portal is open to the public). When the application opens, during the first 21 days the SBA will prioritize reviewing applications from small businesses owned by women, veterans, and socially and economically disadvantaged individuals.

The application portal is not open yet but you can prepare now by visiting sba.gov/restaurants or to get the information in Spanish visit: sba.gov/restaurantes

On these websites, you will find a program guide with details on eligibility and a sample application so you'll know what to expect.

 


 

3 Things to do to Get Ready for the Restaurant Revitalization Fund (RRF)


1. Get connected

Get the program details such as eligibility, funding amount, allowable use of funds and more. If you haven’t already, sign up for updates directly from the SBA.

RRF Details


2. Learn how to prepare.

SBA will launch the RRF application portal soon. In the meantime, you can prepare your application by reviewing the sample application, program guide and cross-program eligibility chart.  Registration with SAM.gov is not required. DUNS or CAGE identifiers are also not required.

Prepare now


3. When to apply.

The official application launch date will be announced shortly. Ahead of the application launch and over the next two weeks, the SBA will establish a seven-day pilot period for the RRF application portal and conduct extensive outreach and training on how to apply, application requirements and where to apply. Participants in this pilot will be randomly selected from existing PPP borrowers in priority groups for RRF and will not receive funds until the application portal is open to the public.  

Following the pilot, the application portal will be opened to the public. For the first 21 days that the program is open, the SBA will prioritize reviewing applications from small businesses owned by women, veterans, and socially and economically disadvantaged individuals. Following the 21-day period, all eligible applicants are encouraged to submit applications. 

 

Click here to follow SBA St. Louis on Twitter