The U.S. Small Business Administration soon will open the application process for grants to eligible foodservice businesses through the Restaurant Revitalization Fund. The program is not yet operational, with many details pending rulemaking by SBA. The following information is based on statutory text and initial guidance provided by SBA. Please check the SBA’s website for updates or contact your nearest SBA District Office if you need immediate assistance.
Qualifying organizations will include restaurants, food stands, food trucks or carts, food courts, caterers, bars, wineries and tasting rooms and taprooms.
Applicants must self-certify that current economic conditions make the grant necessary to support the
ongoing operations of the entity and eligible entities CANNOT
- Be a publicly traded
- Be operated by a state or local government
- Own or operate (together with any affiliated business) more than 20 locations
- Have a pending application with or receive a grant under the Shuttered Venue Operator Grant Program
The grant amount is based on the decline in revenue experienced in 2020 compared to 2019, up to $10
million per applicant (or $5 million if the applicant only has one physical location). There is a separate formula for new businesses, based on either an annualization of their average monthly revenue or the difference between payroll and revenue. Grant amounts will be reduced by any amount previously received under the Paycheck Protection Program.
Funds can be used to cover payroll costs, scheduled mortgage debt payments (both principal and interest),
rent, utilities, supplies and inventory, and any other operating expense incurred between February 15, 2020
and December 31, 2021. Businesses are required to return any amount not used on eligible expenses by the end of the covered period.
Once the application process is open, grants can be requested directly from SBA, however, details on the
application process are pending SBA rulemaking.
During the initial 21 days of the program, only the following businesses can apply:
- Women-owned small businesses
- Veteran-owned small businesses
- Black-owned small businesses
- Hispanic-owned small businesses
- Tribal-owned small businesses
- Asian-owned small businesses
SBA recommends you take the following actions prior to applying:
- Request a DUNS number so you can register in the System for Award Management.
- Register in the System for Award Management.
- Gather documents that demonstrate you meet applicable eligibility criteria.