SBA Announces Restaurant Revitalization Fund
Official Application & Guidelines Released
3 Things to Know About the Restaurant Revitalization Fund (RRF)
1. Get the program details.
Get the program details such as eligibility, funding amount, allowable use of funds, and more. If you haven’t already, sign up for RRF email updates.
2. How to prepare.
Currently, SBA is not accepting applications for RRF. However, you can prepare your application by reviewing 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 in a forthcoming online application portal.
3. When to apply.
The official application launch date will be announced shortly. Ahead of the application launch and over the next two weeks, the SBA will establish a seven-day pilot period for the RRF application portal and conduct extensive outreach and training on how to apply, application requirements, and where to apply. Participants in this pilot will be randomly selected from existing PPP borrowers in priority groups for RRF and will not receive funds until the application portal is open to the public.
Following the pilot, the application portal will be opened to the public. For the first 21 days that the program is open, the SBA will prioritize reviewing applications from small businesses owned by women, veterans, and socially and economically disadvantaged individuals.
Please note that this program is administered directly through the SBA, not Capital Access Group, and we are not able to assist with RRF applications. If you are receiving this email, we think this SBA program may be of interest to you, and as one of our current clients, we wanted to share this info with you as soon as we received it. Supporting your business during this unprecedented time is our top priority. Additional info and details can be found using the links above, or at sba.gov/restaurants.