Calling all restaurants, caterers, food truck operators, and other food-service businesses—the SBA will soon launch the Restaurant Revitalization Fund, a multi-billion dollar program to provide these types of businesses with much needed relief.
This grant program is NOT administered by Pursuit, but we are providing our community with information on this important program. To access the program, please apply for RRF directly with SBA.
What is the Restaurant Revitalization Fund?
The Restaurant Revitalization Fund is providing restaurants and other eligible businesses with funding to keep their doors open and survive the pandemic. You can receive an amount equal to your pandemic-related revenue loss up to $10 million. You won’t be required to repay the funding as long as you use the funds for eligible purposes by March 11, 2023.
Do I qualify for RRF?
If you have experienced pandemic-related revenue loss and are in any of the following industries, you qualify for RRF.
- Food trucks, stands, and carts
- Bars, lounges, and taverns
- Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
- Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
- Snack and nonalcoholic beverage bars
- Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
- Distilleries and wineries (onsite sales to the public comprise at least 33% of gross receipts)
- Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
- Other licensed facilities of a beverage alcohol producer where the public may taste, sample, or purchase products
How can I use my RRF funds?
To ensure that you do not have to pay back the funds, you must use the money for specific expenses, including:
- Payments on any existing debt
- Business payroll costs
- Mortgage and rent payments
- Covered supplier costs
- Operating expenses
- Maintenance expenses
- Construction of outdoor seating
- Business food and beverage expenses (including raw materials)
How do I apply for RRF?
There are two ways to apply for RRF. First, you can apply directly through SBA. SBA has announced that the RRF portal will be open for account registration on April 30th at 9 AM and for application submission on May 3rd. You can also apply with a participating point-of-sale (POS) provider (such as Square, Clover, NCR, or Toast). Please inquire with your POS provider as to whether they are participating and what their application process and timeline is.
Pursuit will not be administering RRF and we are not able to accept applications for the program.
We highly encourage you to review the application information that SBA has made available on their website and prepare to apply in advance. This will be a popular program and funding will be limited. You can view a sample application and review the program guide to get ready.
SBA has also defined priority periods for the program. Any business can apply at any time, but for the first three weeks of the program, SBA will only process applications for businesses owned by women, veterans, or socially and economically disadvantaged individuals (see the SBA website for more information on these definitions).
The program also sets aside significant pools of money for smaller businesses with 2019 gross receipts of under $1.5 million.