Restaurant Revitalization Fund
A $28.6 billion restaurant and bar grant program will be made available soon. Members of the Independent Restaurant Coalition partnered with members of Congress to craft the legislation. While the Small Business Administration (SBA) prepares to stand up the program, businesses should take steps to organize the materials necessary to submit an application once it is available. Below are resources to learn more about the program and what businesses can do to prepare for the application.
Restaurant Revitalization Fund / Grants (ARP Sec. 5003)
- The American Rescue Plan Act provides $28.6 billion for a new Restaurant Revitalization Fund for grants to eligible entities in this hard-hit industry, with a maximum $5 million grant per location and aggregate maximum $10 million grant.
- Per the Act, the Restaurant Revitalization Grants will provide economic relief to:
- Establishment Types: restaurants, food stands, food trucks, food carts, caterers, saloons, inns, taverns, bars, lounges, brewpubs, tasting rooms, taprooms, licensed facilities or premises of a beverage alcohol producer where the public may taste, buy or sample products or any other similar establishment where people assemble for the primary purpose of being served food or drink.
- Any establishment with 20 or fewer locations.
- Ineligible entities include state or local government-operated entities and publicly traded-companies, as well as those entities that have a pending SVOG application or have received an SVOG.
Sign up for thee-newsletter to receive updates as the program is rolled out: SBA e-Newsletter Sign-up
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