Tuesday 23rd April 2024

emanuel-cleaver-ii-4-16-21

United States Representative Emanuel Cleaver II (D-MO) announced the Restaurant Revitalization Fund will open for applications at 11 a.m. CDT on Monday, May 3.

The $28.6 billion program from the American Rescue Plan will make direct aid available to independent restaurants, bars, food trucks, caterers and other hard-hit businesses in the food and drink industry that have experienced economic duress due to the COVID-19 pandemic.

The Restaurant Revitalization Fund will provide restaurants and other eligible businesses with funding equal to their pandemic-related revenue loss up to $10 million per business. The relief does not have to be repaid, provided that the funds are put toward eligible uses by March 11, 2023. The application portal for the Restaurant Revitalization Fund can be accessed at<https://restaurants.sba.gov/requests/borrower/login/>.

Entities eligible to apply include:
· Restaurants;
· Food stands, food trucks, food carts;
· Caterers;
· Bars, saloons, lounges, taverns;
· Snack and nonalcoholic beverage bars;
· Bakeries (onsite sales to the public must comprise at least 33 percent of gross receipts);
· Brewpubs, tasting rooms, taprooms (onsite sales to the public must comprise at least 33 percent of gross receipts);
· Breweries and/or microbreweries (onsite sales to the public must comprise at least 33 percent of gross receipts);
· Wineries and distilleries (onsite sales to the public must comprise at least 33 percent of gross receipts);
· Inns (onsite sales to the public must comprise at least 33 percent of gross receipts); and
· Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample or purchase products.

The Small Business Administration recommends applicants familiarize themselves with the application process in advance by:
· Reviewing the official guidance, including program guide at <https://www.sba.gov/document/support-restaurant-revitalization-funding-program-guide> and an application sample at<https://www.sba.gov/document/sba-form-3172-restaurant-revitalization-funding-application-sample>; and
· Preparing the required documentation.

You can find more information on the Restaurant Revitalization Fund at <https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund>.