SBA opens RRF registration, application process
Restaurant Revitalization Fund registration begins April 30, 2021
The US Small Business Administration announced that it will start accepting Restaurant Revitalization Fund grant applications Monday, May 3, 2021 at 12 p.m. EDT. As a precursor, eligible restaurant operators can begin registering in the SBA’s system starting Friday, April 30, 2021 at 9 a.m. EDT.
Preparing for the RRF application
The application system will remain open to eligible businesses until the funds in Restaurant Revitalization Fund (RRF ) are exhausted, announced the Small Business Administration (SBA). Restaurant operators can sign up for a virtual training session as early as April 27, here.
There are two additional training webinars here:
- Wednesday, April 28 at 1 p.m. EDT. Register here: https://content.govdelivery.com/accounts/USSBA/bulletins/2d1e2b8
- Wednesday, April 28 at 2:30 p.m. EDT. Register here: https://www.eventbrite.com/e/sba-restaurant-revitalization-fund-application-portal-training-registration-152284048689
“The SBA has focused on the marketplace realities of our food and beverage businesses in designing the Restaurant Revitalization Fund to meet businesses where they are,” said SBA Administrator Isabella Casillas Guzman. “And we are committed to equity to ensure our smaller and underserved businesses, which have suffered the most, can access this critical relief, recover, and grow more resilient.”
Registering and applying for the RRF grant
Restaurant operators should keep best practices in mind as they embark on preparing for the RRF registration and application process. here are some tips from the SBA:
- Register for an account in advance at restaurants.sba.gov starting Friday, April 30, 2021, at 9 a.m. EDT.
- Review the official guidance, including program guide, frequently asked questions, and application sample.
- Prepare the required documentation.
- Work with a point-of-sale vendor (POS) or visit restaurants.sba.gov to submit an application when the application portal opens. The SBA indicated that If an applicant is working with a POS vendor under the POS partner program, they do not need to register beforehand on the site.
According to the SBA’s announcement, “For the first 21 days that the program is open, the SBA will prioritize funding applications from businesses owned and controlled by women, veterans, and socially and economically disadvantaged individuals.”
The National Restaurant Association provided additional guidance and background. Through an ondemand webinar, restaurant operators can learn more on how to prepare for the application. The ondemand webinar noted that the covered for eligible RRF grant expenses began February 15, 2020 and will end March 11, 2023.
With the signing of the American Rescue Plan, restaurant operators will get much-needed support for their operations, according to the Association. Part of the Act, signed into law by President Joe Biden, includes the RRF, bringing $28.6B to the table to help the restaurant industry, which has seen a loss of $255B in sales and 110,000 restaurant closures.
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