SBA Announces Official Restaurant Revitalization Fund Application and Guidelines
April 17 2021 - 04:31PM
SBA Administrator Isabella Casillas Guzman today announced key
details on application requirements, eligibility, and a program
guide for the Restaurant Revitalization Fund (RFF). The restaurant
industry has been among the hardest-hit sectors during the economic
downturn caused by the COVID-19 pandemic. To help bring jobs back
and revive the industry, the American Rescue Plan, signed into law
by President Joe Biden, established the $28.6 billion Restaurant
Revitalization Fund at the U.S. Small Business Administration
(SBA). The SBA will administer the funds to the hardest-hit small
restaurants.
“Today, we are starting the process to help
restaurants and bars across the country devastated by the pandemic,
and this is our message: Help is here. With the launch of the
Restaurant Revitalization Fund, we’re prioritizing funding to the
hardest-hit small businesses – irreplaceable gathering places in
our neighborhoods and communities that need a lifeline now to get
back on their feet,” said SBA Administrator Isabella Casillas
Guzman. “And, thanks to clear directives from Congress, we’re
rolling out this program to make sure that these businesses can
meet payroll, purchase supplies, and get what they need in place to
transition to today’s COVID-restricted marketplace.”
Administrator Guzman emphasized, “We’re also
focused on ensuring that the RRF program’s application process is
streamlined and free of burdensome, bureaucratic hurdles – while
still maintaining robust oversight. Under my leadership, the SBA
aims to be as entrepreneurial as the entrepreneurs we serve – and
that means meeting every small business where they are, and giving
them the support they need to recover, rebuild and thrive.”
Under this announcement, details on application
requirements, eligibility, and a program guide are now available in
English at www.sba.gov/restaurants or in Spanish at
www.sba.gov/restaurantes.
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.
The pilot period will be used to address technical issues ahead of
the public launch. 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. The official application launch date will be
announced at a later date. 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. Following the 21-day period, all
eligible applicants are encouraged to submit applications.
The groundwork for this announcement is the result
of a comprehensive effort to reach out to diverse stakeholders in
order to understand the needs and barriers restaurants face in
accessing emergency relief aid.
“Local restaurants and bars are being served very
good news today,” said Erika Polmar, Executive Director of the
Independent Restaurant Coalition. “These guidelines were crafted by
the SBA after conversations with independent restaurant and bar
operators across the country. We are grateful to the SBA for their
hard work to make this process as accessible as possible in a short
period of time. It is clear the SBA and the Biden
Administration care deeply about ensuring businesses struggling the
most can quickly and effectively use this relief program, and we
look forward to continued conversations and collaboration to ensure
this fund works as intended for the independent restaurant and bar
community.”
Community business leaders from underserved
communities also welcomed RRF assistance as much-needed economic
relief and are working with their broad membership bases to
navigate the grant application process.
“In addition to historically having less operating
liquidity and revenue than almost any other small business
demographic, Black-owned restaurants received significantly less
stimulus funding during the COVID-19 pandemic, heightening
challenges and leading to disproportionate closures,” said Ron
Busby, Sr., president and CEO, U.S. Black Chambers, Inc. “The USBC
believes this initiative and collaboration with the SBA will bring
needed resources and relief to these often underserved businesses
to aid in stabilization, recovery and ultimately, strengthen our
economy.”
In addition to restaurant groups and leading
advocacy groups for underserved business communities, the SBA
has engaged national and state trade associations, and other small
business stakeholders in recent weeks to understand their concerns
about relief programs.
“Small and independent craft breweries are vibrant
community gathering places that can be found in nearly every
congressional district in the U.S. and contribute to manufacturing,
hospitality, retail, tourism, and agricultural industries,” said
Bob Pease, president and CEO, Brewers Association. “We are pleased
to work with the SBA to promote the Restaurant Revitalization Fund
landing page and its available resources, and assist the breweries
hit hardest by COVID-19 secure much needed additional relief to
help them survive the pandemic and prepare for the restart of the
economy.”
At all levels, the SBA will continue engaging with
stakeholder communities to inform and design delivery of financial
assistance programs. As the SBA builds and prepares to roll out the
program, this dedicated SBA website is the best source for
up-to-date information for eligible restaurants interested in the
RRF.
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About the U.S. Small Business
Administration
The U.S. Small Business Administration makes the American dream
of business ownership a reality. As the only go-to resource and
voice for small businesses backed by the strength of the federal
government, the SBA empowers entrepreneurs and small business
owners with the resources and support they need to start, grow or
expand their businesses, or recover from a declared disaster. It
delivers services through an extensive network of SBA field offices
and partnerships with public and private organizations. To learn
more, visit www.sba.gov.
Press Office
United States Small Business Administration
Press_Office@sba.gov