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Restaurant Revitalization Fund

Chris Cribbs, MA, State Specialist for Entrepreneurship

If, due to the COVID-19 pandemic, your restaurants, bars, and other similar places of business that serve food or drink are barely making payroll or aren’t making payroll, you are behind on your utilities, your loans are almost in default, you are behind on your rent, your facility is in need of maintenance, you need supplies, or you need money and not a loan… you can apply for the Restaurant Revitalization Fund.

Restaurant Revitalization Fund History

On March 11, 2021, the American Rescue Plan Act (ARPA) became public law (P.L. 117-2). Section 5003 established the Restaurant Revitalization Fund (RRF) and appropriated $28.6 billion for the U.S. Small Business Administration (SBA) to award funds. 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 Businesses

Eligible entities are businesses that are not permanently closed and include businesses where the public or patrons assemble for the primary purpose of being served food or drink including:

• Restaurants
• Food stands, food trucks, food carts
• Caterers
• Bars, saloons, lounges, taverns
• Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
• Other similar places of business in which the public or patrons assemble for the primary purpose of being served food or drink • Snack and nonalcoholic beverage bars •*Bakeries
• Snack and nonalcoholic beverage bars •*Bakeries
• *Brewpubs, tasting rooms, taprooms
• *Breweries and/or microbreweries
• *Wineries and distilleries

Inns

Any business operating as a franchise and meeting all other program requirements is eligible. The franchise must be listed on the SBA Franchise Directory. In the application portal, applicants will be able to look up their entity on the SBA Franchise Directory.

*Bakeries, brewpubs, tasting rooms, taprooms, breweries, microbreweries, wineries and distilleries: In order to be eligible, these businesses must provide documentation with their application that on-site sales to the public comprised at least 33% of gross receipts in 2019. For businesses who opened in 2020 or that have not yet opened, the applicant's original business model should have contemplated at least 33% of gross receipts in on-site sales to the public.**Inns: To be eligible, these businesses must provide documentation with their application that on-site sales of food and beverage to the public comprised at least 33% of gross receipts in 2019. For businesses who opened in 2020 or that have not yet opened, the applicant's original business model should have contemplated at least 33% of gross receipts in on-site food and beverage sales to the public.

Priority Fund Distribution

Priority Period: Days 1-21: During the initial 21-day Priority Period, SBA will accept applications from all eligible applicants. However, in the first 21 days, priority will be given to small businesses owners that are at least 51 percent owned by:

• Women, or
• Veterans, or
• Socially and economically disadvantaged (see below).

Applicants must self-certify on the application that they meet eligibility requirements:

• Socially disadvantaged individuals are those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as a member of a group without regard to their individual qualities.
• oPresumed to be socially disadvantaged: Black Americans; Hispanic Americans; Native Americans (including Alaska Natives and Native Hawaiians); Asian Pacific Americans; or Subcontinent Asian Americans
• Economically disadvantaged individuals are those socially disadvantaged individuals whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities as compared to others in the same business area who are not socially disadvantaged.

Day 22: All eligible applications will be processed and funded until program funds are exhausted.

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 Form 1120-S);
• IRS Form1040 Schedule C; IRS Form 1040 Schedule F;
• For a partnership: partnerships 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.

Sample Application

https://www.sba.gov/sites/default/files/2021-04/SBA%20Form%203172%20RRF%20Application%20204.20.21-508.pdf

Apply Here

Online application portal: https://restaurants.sba.gov

For Additional Information

https://ussbaforgiveness.zendesk.com/hc/en-us/ categories/360005965311-Restaurant-Revitalization-Fund-Knowledge-Base

or

Call center hotline (844-279-8898)

To note

• These appropriations remain available until expended. SBA will continue accepting applications subject to availability of funds.

Resource

Restaurant Revitalization Fund. (n.d.).

https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund#section-header-7.

COOPERATIVE EXTENSION PROGRAM

For all applicants, the following documentation is required:

• SBA Form 3172, completed, initialed, and signed. Completion of this form digitally on the SBA Platform will satisfy this requirement.
• 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.

KYSU.EDU/AG | @KYSUAG

Educational programs of Kentucky Cooperative Extension serve all people regardless of economic or social status and will not discriminate on the basis of race, color, ethnic origin, national origin, creed, religion, political belief, sex, sexual orientation, gender identity, gender expression, pregnancy, marital status, genetic information, age, veteran status, or physical or mental disability. Kentucky State University, University of Kentucky, U.S. Department of Agriculture, and Kentucky Counties, Cooperating. 2021 KYSU-CEP-FAC-0089