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People that are in the restaurant business are now eligible to receive SBA funding thanks to a Restaurant Revitalization Program to restaurants and bars.
The U.S. Small Business Administration (SBA) is awarding funding through the Restaurant Revitalization Program to restaurants, bars, and other similar places of business that serve food or drink. The purpose of this funding is to provide support to eligible entities that suffered revenue losses related to the COVID-19 pandemic.
On March 11, 2021, the American Rescue Plan Act (ARPA) became public law (P.L. 117-2). Section 5003 established the Restaurant Revitalization Fund (RRF), and appropriated $28.6 billion for SBA to award funds. These appropriations remain available until expended. SBA will continue accepting applications subject to the availability of funds.
The fund must be used for eligible uses no later than March 11, 2023.
Eligible entities are businesses that are not permanently closed and include businesses where the public or patrons assemble for the primary purpose of being served food or drink including Restaurants, Food stands, food trucks, food carts, caterers, bars, saloons, lounges, taverns licensed facilities or premises of a beverage alcohol producer where the public may taste a sample or purchase products.
Other similar places of business in which the public or patrons assemble
for the primary purpose of being served
food or drink, snack and nonalcoholic beverage bars, bakeries, brewpubs, tasting rooms, taprooms.
Bakeries, brewpubs, tasting rooms, taprooms, breweries, microbreweries, wineries, and distilleries: In order to be eligible, these businesses must provide documentation with their application that on-site sales to the public comprised at least 33% of gross receipts in 2019. For businesses that opened in 2020 or that have not yet opened, the Applicant’s original business model should have contemplated at least 33% of gross receipts in on-site sales to the public.