Restaurant Revitalization Fund - application portal not open yet

This program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19.

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.

Who can apply

  • 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

You can apply through SBA-recognized Point of Sale Restaurant Partners or directly via SBA in a forthcoming online application portal (when opened).

Registration with SAM.gov is not required. DUNS or CAGE identifiers are also not required.

Additional documentation required:

  • Verification for Tax Information: IRS Form 4506-T, completed and signed by Applicant. Completion of this form digitally on the SBA platform will satisfy this requirement.
  • Gross Receipts Documentation: Any of the following documents demonstrating gross receipts and, if applicable, eligible expenses
  • Business tax returns (IRS Form 1120 or IRS 1120-S)
  • IRS Forms 1040 Schedule C; IRS Forms 1040 Schedule F
  • For a partnership: partnership’s IRS Form 1065 (including K-1s)
  • Bank statements
  • Externally or internally prepared financial statements such as Income Statements or Profit and Loss Statements
  • Point of sale report(s), including IRS Form 1099-K

For applicants that are a brewpub, tasting room, taproom, brewery, winery, distillery, or bakery:

  • Documents evidencing that onsite sales to the public comprise at least 33.00% of gross receipts for 2019, which may include Tax and Trade Bureau (TTB) Forms 5130.9 or TTB. For businesses who opened in 2020, the Applicant’s original business model should have contemplated at least 33.00% of gross receipts in onsite sales to the public. 

For applicants that are an inn:

  • Documents evidencing that onsite sales of food and beverage to the public comprise at least 33.00% of gross receipts for 2019. For businesses who opened in 2020, the Applicant’s original business model should have contemplated at least 33.00% of gross receipts in onsite sales to the public.

More inforamtion:

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

New Pandemic Relief Bill - Updated 1/11/2021

A new round of PPP funding:

  • First draw applications open January 11, 2021
  • Second draw applications open January 13, 2021
  • Applications open until March 31, 2021 or until funds are depleted
  • Includes additional $284 billion; businesses can apply for a second round of PPP. 
  • The bill designates $12 billion for minority-owned and very small businesses, and $15 billion in grants for live venues. 
  • Provides a business with a forgivable loan based on 2.5 times its monthly payroll costs. Restaurants and hotels, however, can seek forgivable loans based on 3.5 times monthly payroll costs. 
  • Enhanced Access to PPP; today’s plan reflects the reality that many mid-sized and larger restaurant and hotel groups are on the verge of bankruptcy and allows both to qualify for PPP as long as they do not employ more than 300 employees at each physical location. 
  • Simplified PPP loan forgiveness application for loans under $150,000.
  • Expanded list of eligible expenses (now includes software, cloud computing, HR, accounting, property damage not covered by insurance, supplier costs, and PPE).
  • Repeals CARES Act provision requiring borrowers to deduct EIDL advance from PPP loan amount.
  • Includes funding for Destination Marketing Organizations (DMOs).

 SBA Programs:

  • Provides $20 billion to restart and expand EIDL grant program for small businesses.
  • Creates a process for existing EIDL Advance grantees that received less than $10,000 to reapply for the difference.
  • Provides $3.5 billion to resume the principal and interest payments of new and existing loans guaranteed under the 7(a), 504, and Microloan programs.
  • Supplies $2 billion to enhance the 7(a), 504, and Microloan programs, waives borrower and lender fees within the 7(a) and 504 programs, and increases the 7(a) loan guarantee to 90 percent.
  • Extends the $1 million loan limit for SBA Express Loans.
  • Establishes a 504 Express Loan program.

 Debt and tax relief:

  • Extends CARES Act banking relief through the end of 2021, which will enable hoteliers to seek additional forbearance from their banks on their conventional loans.
  • Allows the deductibility of PPP loans.
  • Expands and extends the Employee Retention Tax Credit through June 2021.
  • 100-percent deduction for business meals paid or incurred in 2021 and 2022. 

 Other key provisions:

  • Extension of the Pandemic Unemployment Assistance and Pandemic Emergency Unemployment Compensation programs for 11 additional weeks; this includes an additional $300 per week in unemployment insurance through March 14, 2021.
  • A one-year extension to the time states and localities have to spend previously-received coronavirus relief funds.
  • Stimulus checks up to $600 per child and adult for individuals making up to $75,000 per year (same cap as earlier CARES Act); distribution will begin next week.
  • Extension of the moratorium on evictions through the end of January 2021.

Payroll Protection Program (PPP) Loan Forgiveness Explained

The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 60% of the forgiven amount must have been used for payroll). There are two forms available for borrowers to use to apply for forgiveness, Form 3508 and the Form 3508EZ. Borrowers can use the new EZ application if they meet the following requirements:

  • "Are self-employed and have no employees, OR"
  • "Did not reduce the salaries or wages of their employees by more than 25% and did not reduce the number or hours of employees; OR"
  • "Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%."

Form 3508

PPP Loan Forgiveness Application Instructions (Revised 11/30/20)

PPP Forgiveness Worksheet With Safe Harbor Test

PPP Loan Forgiveness Application (Revised 11/30/20)

Form 3508EZ

PPP Loan Forgiveness EZ Application Instructions (Revised 11/30/20)

PPP Forgiveness Worksheet for the EZ Application

PPP Forgiveness Application 3508EZ (Revised 11/30/20)

Videos and webinar on PPP forgiveness