The U.S. Small Business Administration has announced the Restaurant Revitalization Fund.
The U.S. Small Business Administration has announced a grant for new and existing businesses who are primarily serving food or beverage. This program will provide businesses with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Free informational sessions are planned at 10 a.m. every Monday, Wednesday, and Friday through May 14, 2021.
The Restaurant Revitalization Fund provides:
- $10 million cap per grant
- $5 million limit per physical location
- Must have 20 or fewer establishments
- Must certify economic necessity
- Not subject to income tax
- Federal tax deductions protected
- Cannot be publicly traded
- Cannot apply if previously applied to Shutter Venue Grant
Eligible Business Types
- Restaurant
- Food Truck, Cart, Stand
- Caterer
- Bar
- Lounge
- Inn
- Tavern
- Saloon
- Bakery
- Brewery
- Winery
- Tasting Room
To learn more about the Restaurant Revitalization Fund, eligibility, qualified expenses, grant calculation, and the next steps, register for the upcoming informational webinars.