Apr 27, 2021
Today, the SBA announced it will open registration for the Restaurant Revitalization Fund (RRF) on Friday, April 30, 2021, at 9 am ET. Applications will officially be available on Monday, May 3, 2021, at noon ET and will remain open for any eligible entity until the funds are completely exhausted. In order to prepare for the launch of the RRF, the SBA recommends applicants become familiar with the application process by doing the following:
- Register in advance for an account at restaurants.sba.gov. This registration will go live on Friday, April 30, 2021, at 9 a.m. EDT.
- Review the official guidance, program guide, FAQs, and sample application published by the SBA.
- Prepare your required documentation.
- When the portal opens on Monday, May 3rd, 2021 work with your point-of-sale vendor or visit restaurants.sba.gov to submit your application. The SBA noted if you are working with a point-of-sale vendor, registration prior to submitting the application is not required.
The SBA will host two webinars on Tuesday, April 27, and Wednesday, April 28 covering the Restaurant Revitalization Fund program details and how to submit an application. To register for one of the webinars, click below:
While the webinars are limited to the first 20,000 registrants, recordings will be made available on the SBA’s YouTube Channel.
The SBA will be prioritizing funding applications from businesses owned by women, veterans, and socially and economically disadvantaged individuals for the first 21 days. However, all eligible applicants are strongly encouraged to submit their applications as soon as the portal opens. Once the 21 day priority period has passed, all eligible applications will receive funding on a first-come, first-serve basis.
If our team can be of assistance please reach out to us. We will continue to update and monitor this topic as more news is shared.
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Kristin Metzger, CPA
Restaurant Practice Leader
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