Posted on Thursday April 29, 2021
Click here for more information on the Restaurant Revitalization Fund
RESTAURANT REVITALIZATION FUND
The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funds to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funds equal to their loss of income due to the pandemic, up to a maximum of $ 10 million per business and no more than $ 5 million for each physical location. Recipients are not required to repay funding, as long as the funds are used for approved uses no later than March 11, 2023.
WHO CAN APPLY?
Eligible entities that have experienced pandemic-related revenue losses include:
- Restaurants
- Food Stalls, Food Trucks, and Food Carts
- Meal services for meetings or banquets / catering
- Bars, canteens, lounges and taverns
- Snack bars and non-alcoholic beverages
- Pastry shops / bakeries (sale to the public on the premises represents at least 33% of gross income)
- Beer distilleries with bars, tasting rooms, on-tap beer halls (on-site retail accounts for at least 33% of gross revenue)
- Breweries and / or microbreweries (sale to the public on the premises represents at least 33% of gross income)
- Wine cellars and distilleries (sale to the public on the premises represents at least 33% of gross income)
- Posadas or hostels (called “inns” in English, the sale of food and beverages to the public on the premises represent at least 33% of gross income)
- Facilities or premises licensed by a producer of alcoholic beverages where the public can taste, taste or buy products
FOR MORE INFO GO TO: www.sba.gov/restaurants