Restaurant Revitalization Grants
March 30, 2021 Update
SBA Announces applicants of the Restaurant Revitalization Fund applicant no longer need to sign up for a SAM.gov account or have a DUNS number
The SBA announced that applicants of the upcoming Restaurant Revitalization Fund, which is expected to open in early April, no longer need to sign up for a SAM account or have a DUNS number to apply. The Independent Restaurant Coalition updated their guidance on the program here.
Restaurant Revitalization Fund
A new program called the 'Restaurant Revitalization Fund' is included in the American Rescue Plan, which was signed into law last week. The program will be administered by the SBA and is expected to open within the coming weeks. This page will be updated regularly as guidance is made available from the SBA.
- Startup Junkie Consulting: Restaurant Revitalization Grants
- Independent Restaurant Coalition Press Release
- Frequently Asked Questions About the Independent Restaurant and Bar Grant Program updated 3/30/21
- Q: What businesses will be eligible to apply for this program?
- A: Eligible businesses include restaurants, food trucks, caterers, inns, taverns, bars, lounges, brewpubs, tasting rooms, taprooms, and alcoholic beverage producers where the public may taste or purchase products, or other businesses whose primary purpose is to bring people together to drink or eat.
- Q: Can new businesses apply to receive a grant?
- A: Businesses who are eligible to apply had to be open on February 15, 2020.
- Q: How will the funds be distributed?
- A: The program has $25 billion in total funding. $5 billion is reserved only for businesses that had less than $500,000 in gross receipts during 2019. $20 billion will be available to businesses of varying size. Grants will be limited to $5 million per location, and will not exceed $10 million.
- Q: Will the program have a prioritization period?
- A: Yes, during the first 21 days prioritization will be given to businesses owned by women, veterans, and socially and economically disadvantaged businesses.
- Q: Who will be administering the grant program?
- A: The Small Business Administration.
- Q: What can the funds be used for?
- A: Payroll, mortgage payments, rent, utilities, maintenance expenses, supplies including PPE, food and beverage expenses, operational expenses, paid sick leave, other expenses outlined by the SBA.
- Q: Can franchises apply for the Restaurant Revitalization Fund?
- A: Franchisees can apply so long as they have fewer than 20 locations and are not publicly traded entities.
- Q: How will the grants be calculated?
- A: Grants will be calculated by subtracting 2020 revenue from 2019 revenue. The first and second PPP loans received in 2020 will also be subtracted.
- Q: What if my restaurant opened in 2019? How will revenue be calculated?
- A: Information on this, as well as on restaurants that opened in 2020, will be provided on March 15, 2021.