SpringPeak Capital

The federal Restaurant Revitalization Fund (RRF) provides non-taxable grants to restaurants hit hardest by the COVID-19 crisis. Individual restaurants may qualify for up to $5 million and restaurant groups may be eligible for up to $10 million in grant funding. This grant is designed to reimburse you for any revenue your business lost between 2019 and 2020.

RRF registrations will open on Friday, April 30. Applications will open on Monday, May 3. Anyone considering applying is urged to start organizing their application.

The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.

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.

Call/Text/Email with questions or concerns. (347) 391-9467 [email protected]

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