Restaurant Revitalization Fund

Restaurant Revitalization Fund

As part of the American Rescue Plan Act that became law in March 2021, the Small Business Administration (SBA) has set up a $28.6 billion Restaurant Revitalization Fund (RRF).  The RRF awards grants of up to $5 million per physical location and is capped at $10 million per entity and affiliates.  These SBA grants will provide restaurants with the funding equal to their pandemic-related loss of revenue.

Who can apply

Eligible entities who have experienced pandemic-related revenue loss include:

  • Restaurants
  • Food stands, food trucks, food carts
  • Caterers
  • 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)
  • Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products

How to apply

Eligible businesses can apply through SBA-recognized third-party point-of-sale vendors or directly through the SBA using the forthcoming online application portal.

A sample application form (SBA Form 3172) is available for download (see link below) for businesses that would like to prepare their applications. The form will be completed online, but the SBA requests that businesses not submit forms at this time.

To verify tax information, businesses will be required to submit IRS Form 4506-T, Request for Transcript of Tax Return, completed and signed by the applicant. This requirement can be satisfied by completing this form on the SBA platform.

Priority Groups

For the first 21 days, the SBA will accept applications from all eligible applicants, but only process and fund priority group applications.  The priority groups include restaurants that are >51% owned by women, veterans, or socially/economically disadvantaged individuals.

RRF further information:  https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund

Sample SBA Form 3172https://www.sba.gov/document/sba-form-3172-restaurant-revitalization-funding-application-sample

IRS Form 4506-T:  https://www.irs.gov/pub/irs-pdf/f4506t.pdf

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The Cultural Alliance of Greater Washington has worked with Bormel, Grice & Huyett, P.A., since 1988. Their knowledge of the arts and the arts community make their services invaluable. They can translate accounting terminology into a comprehensive language. For many organizations, the accounting firm of Bormel, Grice & Huyett provides the financial "information bridge." We whole-heartedly recommend Bormel, Grice & Huyett, excellent accountants who care about our arts organizations.
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