Get helpful hints about available grant money in this Restaurant Revitalization Fund guide.
Restaurant resilience has been remarkable. You have mastered outdoor dining, turning sidewalks and parking lots into café-style seating. You have tackled the virus head-on, enhancing cleaning protocols and establishing dividers and pods to keep guests safe. The industry went from dominating in-person dining to mastering takeout, delivery, and online ordering almost immediately – showcasing innovation and adaptation that inspired the rest of the business world.
And now, it's time to move from resilience to revitalization.
Through the Restaurant Revitalization Fund, administered by the Small Business Administration (SBA), local restaurants will have access to critical funds needed to recover, rebuild, and thrive. Applications are now being accepted, and here are a few tips to help you hit the ground running:
There are three ways to apply for RRF grants:
- An official SBA Restaurant Partner – POS vendors include One Source partner NCR Silver, Square, Toast, Clover, and Oracle.
- The SBA online portal at restaurants.sba.gov
- Via phone at the SBA call center hotline: 844-279-8898.
What You Need
- Tax Form – IRS Form 4506-T, completed and signed
- Gross receipts documentation
- Business tax returns
- IRS Forms 1040 Schedule C and F
- Bank statements
- Prepared financial statements
- Point of sale reports
- Partnership's IRS Form 1065
- At least 33% in 2019 on-site sales to the public.
- Businesses that opened in 2020 must have planned for 33% in on-site sales.
- Must own or operate fewer than 20 locations since March 13, 2020.
- Temporarily closed restaurants are eligible, and those not yet opened that have incurred expenses as of March 11, 2021.
- The first 21 days of the program will prioritize applications from female and veteran-owned small businesses as well as those owned by socially or economically disadvantaged individuals. However, the SBA will accept ALL applications during this time.
Restaurants have done everything within their power to keep the doors open throughout the pandemic. And help has arrived. Apply today for a Restaurant Revitalization Fund grant and keep the traffic flowing into your dining rooms and outdoor spaces this summer.
Visit the following links for more information and resources on the Restaurant Revitalization Fund: