The SBA’s long-awaited Restaurant Revitalization Fund (RRF) finally opens for registration this morning, with applications being accepted starting on Monday.  Restaurants, bars, breweries, wineries, caterers, food trucks/stands, bakeries, distilleries, and inns are all eligible entities if they receive at least 33% of gross receipts from the onsite sale of food and beverage to the public.

To determine how much you are eligible for, you take your 2019 gross receipts and subtract your 2020 gross receipts and your PPP loan amounts to determine your funding amounts. PPP, EIDL, and state/local grants do not count towards gross receipts.

Repayment is not required if monies are used for eligible expenses before March 11, 2023.  Eligible expenses include rent, mortgage payments, payroll, debt service, utilities, maintenance, supplies, supplier costs, food and beverage expenses, operating expenses, and even construction of outdoor seating expenses.  More information can be found at https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund.