Restaurant Revitalization Fund - Applications Open Today!
The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This 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. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.
Registration for the SBA application portal is now open. Applications will open on Monday, May 3, 2021, at noon ET.
Whether you were in business in 2019 and 2020 or had just started this year (prior to 3/11/21).
The new US Restaurant Revitalization Fund is a great source of GRANT funding for all sorts of food establishments affected by the pandemic.
Monday, May 3: The internet portal is now open! Go to restaurants.sba.gov.
Tuesday, May 4: The Small Business Administration Hawaiʻi District Office
is hosting a local webinar on program specifics. Click HERE to register.
The SBA national office also offered a webinar on the program. A recording
is available HERE (you may need to download Microsoft Teams to view).
Full information on the program is available at the SBA site: Click HERE.
The West Hawaiʻi Small Business Development Center office is available to answer any questions you may have about this program or to assist with your application. Call (808) 333-5000.
Eligible entities who have experienced pandemic-related revenue loss include:
- Food stands, food trucks, food carts
- Bars, saloons, lounges, taverns
- Snack and nonalcoholic beverage bars
- Bakeries* (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)
- Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
- Wineries and distilleries (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)
|BA will accept applications from all eligible applicants, but only process and fund priority group applications. See “Priority groups” below.
|During this period, SBA will fund applications where the applicant has self-certified that it meets the eligibility requirements for a small business owned by women, veterans, or socially and economically disadvantaged individuals.
See “Set asides” below.
|Open to all applicants
Days 22 through funds exhaustion
|SBA will accept applications from all eligible applicants and process applications in the order in which they are approved by SBA.
• A small business concern that is at least 51 percent owned by one or more individuals who are:
• Applicants must self-certify on the application that they meet eligibility requirements
- Women, or
- Veterans, or
- Socially and economically disadvantaged (see below).
• Socially disadvantaged individuals are those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as a member of a group without regard to their individual qualities.
• Economically disadvantaged individuals are those socially disadvantaged individuals whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities as compared to others • in the same business area who are not socially disadvantaged.