TO: Kingsland Restaurant Establishments
SUBJ: Restaurant Revitalization Fund
DATE: April 29, 2021
SBA sets opening dates for Restaurant Revitalization Fund
The U.S. Small Business Administration has unveiled opening dates for the much-anticipated Restaurant Revitalization Fund (RRF). Registration for the $28.6 billion program will open at 9 a.m. ET on April 30, with the doors opening for application submissions starting at noon ET on May 3.
Restaurants and other food providers hard-hit during the COVID-19 pandemic have been anxiously awaiting direct aid to help them recover after more than a year of government-imposed closures and dramatic reductions in sales. The RRF will award restaurants with grants equal to their pandemic-related revenue loss, up to $10 million per business and no more than $5 million per physical location.
In preparation for the May 3 opening of the application window, the SBA advised eligible entities to familiarize themselves with the application process in advance.
Eligibility, directions for applying and additional resources can be found online at:
https://www.journalofaccountancy.com/news/2021/apr/sba-restaurant-revitalization-fund-application-opening-dates.html?utm_source=mnl:alerts&utm_medium=email&utm_campaign=27Apr2021&utm_content=button