The U.S. Small Business Administration (SBA) announced they will begin registrations for the Restaurant Revitalization Fund (RRF)on Friday, April 30, 2021, at 9 a.m. EDT and open applications on Monday, May 3, 2021, at noon EDT for the Restaurant Revitalization Fund. The online application will remain open to any eligible establishment until all funds are exhausted.
The RRF is a $28.6 billion fund to help restaurants recover from the pandemic and was part of the American Rescue Plan Act, signed into law on March 11, 2021.
📌Pro-tip: If you have questions, the SBA encourages you to call them, 1-844-279-8898, 8am to 8pm EST, 7 days a week.
Who is Eligible for the RRF?
We've put together a summary post on eligibility, which includes how much money you can get and what expenses you can use it for.
In addition, here is the detailed information direct from the SBA website. Here's a table of contents of what you'll find directly on the SBA website.
Who How Does the Online Application Portal for RRF Work?
Based on the data from the pilot program, the online application should take 20-25 minutes. However, you should prepare all your documents and information ahead of time.
Here's a screenshot of the SBA Restaurant Revitalization Fund portal. There are around 7 main steps:
- Confirming your Eligibility
- Confirming your Business Details
- Calculating your Award Amount
- Linking your Bank Account
- Adding your Supporting Documents (tax returns, POS, bank statements)
- Confirming Owner Information
- Reviewing & Submitting Application
Plus, the SBA has a help center in the bottom right corner of the application page in case you have questions that come up while completing.
The SBA also encourages people to call them if they have questions. They're open 8am to 8pm EST, 7 days a week: 1-844-279-8898
RRF Application Summary
Again, read our summary post on eligibility, which includes how much money you can get and what expenses you can use it for. Then go reference the detailed information direct from the SBA website. Good luck & let us know how it goes!