The U.S. Small Business Administration will begin registrations on Friday, April 30, 2021, at 9AM and open applications on Monday, May 3, 2021, at 12PM for the Restaurant Revitalization Fund. The online application will remain open to any eligible establishment until all funds are exhausted.
The Restaurant Revitalization Fund provides a total of $28.6B 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 $10M per business and no more than $5M 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 sba.gov starting Friday, April 30, 2021, at 9AM
- 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 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.]
- Attending a live recorded virtual training webinar.
- Tuesday, April 27 | 2:30PM | Register here
- Wednesday, April 28 | 1PM | Register here
- Wednesday, April 28 | 2:30PM | Register here
Please note that 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.
Please click here for more information on eligibility and which documents to gather.