Everything You Need To Know About The Restaurant Revitalization Fund – (RRF)
Think your business may qualify for the Restaurant Revitalization Fund or want to learn more? Here is everything you need to know.
As part of the American Rescue Plan Act, the RRF is designed to provide emergency assistance for eligible restaurants, bars, and other qualifying businesses. The program’s main function is to provide restaurants with funding equal to their pandemic-related losses up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding if it is used before March 11, 2023.
Eligible businesses:
- Restaurants
- Food stands, food trucks, food carts
- Caterers
- Bars, saloons, lounges, taverns
- Snack and nonalcoholic beverage bars
- Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
- Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
- Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
- Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
- Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
- Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
The SBA is not accepting applications yet, but you can prepare your application now. The official application date will be announced in the coming weeks.
Learn More About The RRF HERE.