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Township News

Posted on: April 27, 2021

SBA Announces Restaurant Revitalization Fund

Main Street Millburn

The U.S. Small Business association is awarding funding through the Restaurant Revitalization Program to restaurants, bars, and other similar places of business that serve food or drink. 

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 $28.6 billion 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 entities who have experienced pandemic-related revenue loss include 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); and licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products.

The program is set to launch soon and we encourage interested businesses to sign up for email alerts that will include when application process begins. Eligible entities can prepare the SBA 3172 form by downloading the application from the SBA website. For assistance preparing the application, applicants can access the following SBA call center support: 1-844-279-8898 between Monday-Friday from 8 a.m. to 8 p.m. ET or reach out to the nearest local SBA office.

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