Restaurant Revitalization Fund Assistance
The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, will provide over $25 billion to a Restaurant Revitalization Fund (RFF). Moreover, the fund will be administered by the U.S. Small Business Administration. In addition, under this bill, restaurants, food trucks, lounges, bars and other eligible entities will be eligible to receive a grant of up to $10 million and are limited to $5 million per physical location. Restaurant revitalization fund assistance is an advisory service tailored for restaurants. Without a doubt, this is one of the best stimulus programs because it is a grant.
The SBA recommends that everyone register to apply for the RRF grant on April 30th at 9 AM EST at https://restaurants.sba.gov/.
Applications for all “eligible” entities will be accepted starting May 3rd at 12 PM EST. The application process will be located online at https://restaurants.sba.gov/.