The U.S. Small Business Administration (SBA) has announced a new Restaurant Revitalization Fund (RRF) to provide emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19. Eligible small businesses can apply for 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. The RRF was established through the American Rescue Plan Act to provide funding to help restaurants and other eligible businesses keep their doors open.
Eligible entities who have experienced pandemic-related revenue loss and can apply include:
Explore the RRF program guide and learn more on how to apply online at www.sba.gov/Restaurants. Small businesses can find additional opportunities and all of SBA's pandemic relief options online at www.sba.gov/Relief.