The Small Business Association announced on Tuesday that it will begin registrations on Friday, April 30th at 9am (Eastern) for the Restaurant Revitalization Fund.
Applications will be open on Monday, May 3rd at noon (Eastern).
The fund was established under the American Rescue Plan and signed into law by President Biden on March 11th, 2021.
The Restaurant Revitalization Fund provides a total of $28.6 billion in direct relief to restaurants and other food establishments that have experienced economic hardships and losses as a result of the COVID-19 pandemic. The 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. Funds need to be used by March 11th, 2023.
The SBA recommends applicants become familiar with the application process in advance specifically by:
- Registering for an account in advance at www.sba.gov starting Friday, April 30th
- Reviewing the official guidance, FAQ, and application sample
- Preparing the required documentation
- Working with a point of sale vendor or visiting www.sba.gov to submit an application when that process opens on Monday, May 3rd.
- Attending a live recorded virtual training webinar:
Wednesday, April 28th, at 1 p.m. Eastern — Register here.
Wednesday, April 28th, at 2:30 p.m. Eastern — Register here.
