Applications for the Restaurant Revitalization Fund open at 12:00 noon on May 3. 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.
Eligible entities who have experienced revenue loss due to COVID-19 include:
- Food stands, food trucks, food carts
- Bars, saloons, lounges, taverns
- Snack and nonalcoholic beverage bars
- Bakeries (where onsite sales to the public comprise at least 33 percent of gross receipts)
- Brewpubs, tasting rooms, taprooms (where onsite sales to the public comprise at least 33 percent of gross receipts)
- Breweries and/or microbreweries (where onsite sales to the public comprise at least 33 percent of gross receipts)
- Wineries and distilleries (where onsite sales to the public comprise at least 33 percent of gross receipts)
- Inns (where onsite sales of food and beverage to the public comprise at least 33 percent of gross receipts)
- Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
Groups being prioritized for the funds include small businesses that are at least 51 percent owned by one or more individuals who are: Women, Veterans, or Socially and economically disadvantaged.
Socially disadvantaged individuals are defined as those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as a member of a group without regard to their individual qualities.
Economically disadvantaged individuals are those socially disadvantaged individuals whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities as compared to others in the same business area who are not socially disadvantaged.
The first 21 days will be dedicated to priority groups. Applications for all eligible applicants will be considered on Day 22 until all funds are exhausted.
To learn more about the program, click here.