The U.S. Small Business Administration will begin registrations at 9 a.m. April 30 and open applications at noon May 3 for the Restaurant Revitalization Fund.
For the first 21 days that the program is open, the SBA will prioritize funding applications from Veterans, along with businesses owned and controlled by women 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.
The online application will remain open to any eligible establishment until all funds are exhausted.
Established under the American Rescue Plan, and signed into law by President Joe Biden on March 11, 2021, the Restaurant Revitalization Fund provides a total of $28.6 billion in direct relief funds to restaurants and other hard-hit food establishments that have experienced economic distress and significant operational losses due to the COVID-19 pandemic. 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. Funds must be used for allowable expenses by March 11, 2023.
In preparation, the SBA recommends qualifying applicants familiarize themselves with the application process in advance to ensure a smooth and efficient application experience, specifically by:
- Registering for an account in advance at restaurants.sba.gov starting April 30 at 9 a.m. ET.
- Reviewing the official guidance, including program guide, frequently asked questions, and application sample.
- Preparing the required documentation.
- Working with a point-of-sale vendor or visiting restaurants.sba.gov to submit an application when the application portal opens. [Note: If an applicant is working with a point-of-sale vendor, they do not need to register beforehand on the site.]
Consistent with the legislation and the intent of Congress, the SBA continues to take steps to ensure the equitable distribution of relief, particularly for the smallest businesses, by creating a $9.5 billion set-aside: $5 billion for applicants with 2019 gross receipts of not more than $500,000; $4 billion is set aside for applicants with 2019 gross receipts from $500,001 to $1,500,000; and $500 million for applicants with 2019 gross receipts not more than $50,000.
“Restaurants are the core of our neighborhoods and propel economic activity on main streets across the nation,” said SBA Administrator Isabella Casillas Guzman. “They are among the businesses that have been hardest hit and need support to survive this pandemic. We want restaurants to know that help is here.”
More information
For more information, visit sba.gov/restaurants or in Spanish at sba.gov/restaurantes.
View the Restaurant Revitalization Funding Program Guide at https://www.sba.gov/document/support-restaurant-revitalization-funding-program-guide.
View the Restaurant Revitalization Funding Application Sample at https://www.sba.gov/document/sba-form-3172-restaurant-revitalization-funding-application-sample.
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I served 28 yrs in the Army National Guard and retired. My wife and I invested some saving to start-up a restaurant. After we had finished with all equipment furnishing, submitting all forms required to open up the business is when the country was affected by the Covid-19 Pandemic. Question: Do we qualify qualify for the Restaurant Revitalization Fund. Thank You
Hello, I am in the startup phase on opening a business and I am looking for a Business Mentor, also are there any grant available for startup companies? I am a minority owned, disabled vet. I am located in Dayton, OH
Is the SBA helping a start-up “Delivery Service Partner” venture with Amazon? Thanks.
Are VFW Posts Operating Food Services under VFW National ITIN’s legible for Grants?
Are there any Grant’s available for start up businesses?
You know I’m glad that the Restaurants are being helped. But at the start of this thing my business had three to four people working for me, I’m down to just me and the only way I’m still here is because of all the hard work I’ve done over the years and my personnel savings that I had on hand. The few great customers that I still have are always asking if we are going to make it, the truth is I don’t know. Every time the government servers up one of these help programs it comes with a mountain of paperwork to prove that I need help. I don’t have the time to chase rainbows let alone the resources. I did manage to get A SBA loan last year, with a one year deferral payment and that has helped, but that’s coming due in June and I’ll have to start making payments then. My last point for what it’s worth is that all small business are hurting and most could use a hand. We should not be focused on the type of people that have give so much of themselves to start a small business but more so on what we as a people can do to save the small business person(s).
I’m 61, a White Male, Veteran, who has spent the last 20 years trying to run a small gift and repair shop with my Wife.
You can hate me all you want, it won’t be the first time I’ve had people gunning for me.
I understand. I am a veteran and female owned small business. Our community and employees helped save us plus draining my savings, so I do appreciate this. The paperwork will suck and I will muddle through. But I want to support you. Where is your business? What kind of gift and repair? We all need to support each other and I truly want to support your business.
Thank you for your service.
I am a woman veteran and have just received my business license to run a non-profit pet rescue. Does the VA Small Business provide support in this area?
Thank you.
Sherry
Is there any way a 83 yr. old veteran (1961-1967) with only social security and trying to operate a small ,antique business could qualify for any help??
My antique business went into the cellar when the pandemic hit. My business depends on travelers on the highway to stop and shop at our antique mall – where my goods are located.
Over a year of booth rents,etc. with very little in return from the traveling public.
My one location is in Buffalo, N.Y. – ,near the Canadian border, the border is pretty much been closed to all travelers , and most of my business depends on Canadian customers.
Any help would be appreciated,
Thanks,
Fred Krizan
For women and socially/economically disadvantaged? When did the VA get into woke politics? Screw me if I’m a white male
If you’re a veteran owning a business you qualify “white male” and are not “ screwed “.
So what if you are white and not a veteran? Do you just have to struggle by on your “white privilege”? I agree with Joseph about white discrimination.