Beginning tomorrow, April 30, at 9:00 a.m., the Small Business Administration (SBA) is opening online registration for its Restaurant Revitalization Fund applications. Then, on Monday, May 3, at 12:00 p.m., the application for funding opens for registered businesses. The Restaurant Revitalization Fund is a program to give restaurants and other eligible food service businesses awards to help them recover from pandemic-related revenue loss.
If your eligible business is owned at least 51% by women, veterans, or socially and economically disadvantaged individuals, your business is in the priority group. For the first 21 days after applications open ONLY priority group applications will be processed and funded. After 21 days, all applications will be processed in the order in which they were received. We encourage all of our clients to apply as soon as applications open so that they can ensure their applications will be reviewed and processed as early as possible.
Please note that applying does not guarantee funding. The SBA has a limited amount of funds that may be exhausted prior to the processing of your application. If you have any questions or need assistance in navigating the application process, please contact one of our Business Law attorneys, Jesse Jones, Jillian Shannon or Larry Shaheen.
Additional information about the program and application can be found at https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund.