Big news from the SBA that was summarized very well by both the Independent Restaurant Coalition and the National Restaurant Association.
Today, the Small Business Administration announced that Restaurant Revitalization Fund applications will open at 11 am Central Time on Monday, May 3, 2021.
To prepare to apply, please visit restaurants.sba.gov this Friday, April 30th after 8 am Central Time to create your account. We encourage you to register on Friday and submit your application on Monday.
Please watch the 90-Second Advocacy Update with Sean Kennedy for a great overview of what’s next. (Spoiler alert: it’s closer to three minutes long.)
The SBA has provided many resources to help you prepare — links for training, recordings, a sample application, and more. Please see below (some info is from the national office and some is from Illinois; mind the time zones).
In preparation, qualifying applicants should familiarize themselves with the application process in advance to ensure a smooth and efficient application. Follow the steps below.
- Register for an account in advance at restaurants.sba.gov starting Friday, April 30 at 9 a.m. EDT. If you are working with Square or Toast, you do not need to register beforehand on the application portal.
- Review the sample application, program guide and cross-program eligibility chart on SBA COVID-19 relief options.
- Attend one of the webinar trainings listed below. These will be recorded and later posted on SBA’s YouTube channel. We will share the recording links via email and on SBA’s social media channels.
- Wednesday, April 28 | 1 p.m. EDT | Register here
- Wednesday, April 28 | 2:30 p.m. EDT | Register here
For more information, visit sba.gov/restaurants.
| About Restaurant Revitalization Fund The Restaurant Revitalization Fund (RRF) provides funding to help restaurants and other eligible businesses keep their doors open. 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. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. More about RRF Registration and application information Registration will begin on Friday, April 30, 2021, at 8 a.m. Central Time and applications will open on Monday, May 3, 2021, at 11 a.m. Central Time. The online application will remain open to any eligible establishment until all funds are exhausted. Read more Restaurant Revitalization Fund Training Opportunities National RRF Training: Application Overview SBA is hosting two national webinars on the Restaurant Revitalization Fund that will demonstrate how to submit an application through the portal. Both webinars will cover the same content, so choose a time that works for you! April 27, 1:30 pm April 28, 1:30 pm Register Register  National RRF Briefing with SBA Administrator The SBA and the Public Private Strategies Institute (PPSI) are hosting a national briefing on the new $28.6 billion Restaurant Revitalization Fund. SBA Administrator Isabella Casillas Guzman will kick off this event. This briefing is cosponsored by the SBA and PPSI. April 28, 12 p.m. Register Local RRF Training Watch a replay of the Illinois District Office RRF training that took place on Friday, April 23 at 4:00 p.m. to learn more about the program. Stay connected with us for more local training opportunities! Watch a replay RRF Resources in English and Other Languages Have a question? See if there’s an answer in the RRF knowledge base. Call center support: 1-844-279-8898 in multiple languages RRF information is now available in 17 languages Program guide Sample application NEW: 1 page overview flyer If you haven’t already, sign up for RRF email updates. Review the sample application, program guide, and cross-program eligibility chart on SBA COVID-19 relief options. You will be able to apply through SBA-recognized Point of Sale Restaurant Partners or directly via SBA at restaurants.sba.gov. All info about RRF E-mail questions to illinois.do@sba.gov. |
If this or any other posts on the website were useful to you, and your financial situation permits it, please consider contributing to my tip jar. Ths allows me to continue to provide free accounting resources to small businesses who do not have the funds available to hire a CPA.