On April 22nd, the U.S. Small Business Administration released guidelines for the Restaurant Revitalization Fund (RFF), a fund that is part of the American Rescue Plan Act of 2021. The Act appropriated $28.6 billion dollars for restaurant industry focused funds. Recipients do not need to repay the awarded funds as long as the monies are used for eligible expenses by March 11, 2023.
Full grant information and application can be found at http://restaurants.sba.gov. The RFF application portal opened on May 3rd. According to the SBA, “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.”