There’s good news for restaurant and bar owners whose business has been affected by the coronavirus pandemic. Passage of the American Rescue Plan included funding for a Restaurant Revitalization Fund (RRF) that authorizes distributions, through the Small Business administration, of grants up to $10 million, depending upon amount of revenue lost.
That funding is now available, but ….
Registration for the Restaurant Revitalization Fund (RRF) will begin Friday, April 30 at 9 a.m. EDT and SBA will begin accepting applications via the application portal on Monday, May 3 at 12 p.m. EDT. The application portal will remain open to any eligible establishment until all funds are exhausted.
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.
Assistance with Eligibility Assessment and the Application
Our team is prepared to help determine your eligibility, assess impacts resulting from the relief assistance you may have already received, and prepare your application.
We strongly recommend that you prepare and apply as soon as possible. When grant funding is exhausted, the program will end.
Please call me at 716.847.2651 to schedule a no-fee consultation.
In addition, to help you secure an RRF grant, we are pleased to present a list of resources, available now: