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.
As of April 30, 2021 at 9:00 a.m., eligible small business owners are able to register for the RRF application portal. You won't be able to apply until Monday, May 3, 2021, at noon EDT, but registering in the portal is a great first step that you can accomplish now!
There are a couple of other steps you can take before the portal opens to make sure you are ready to submit your application.
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Review the program guide, sample application and other program guidance at: www.sba.gov/restaurant
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Prepare your required documentation
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Watch this recorded webinar to learn more about the application process: Restaurant Revitalization Fund: Learn How to Apply - YouTube
You can also work with a point-of-sale vendor to submit your application. You can read a little more about that here: SBA Announces First-of-Its-Kind Technology Initiative for Restaurant Revitalization Fund. [Note: If you are working with Square or Toast, you do not need to register on SBA's application portal.]
To reach all restaurants across the region, the New England SBA offices are hosting several RRF webinars in different languages. You can find out more about these webinars below.
