3 Things to Know about the Restaurant Revitalization Fund (RRF)April 22, 2021
1. Get program details
Get the program details such as eligibility, funding amount, allowable use of funds, and more. If you haven’t already, sign up for RRF email updates.
2. How to prepare
Currently, SBA is not accepting applications for RRF. However, you can prepare your application by reviewing the sample application, program guide, and cross-program eligibility chart on SBA COVID-19 relief options. You will be able to apply through SBA-recognized Point of Sale Restaurant Partners or directly via SBA in a forthcoming online application portal. Registration with SAM.gov is not required. DUNS or CAGE identifiers are also not required.
3. When to apply
The official application launch date will be announced shortly. Ahead of the application launch and over the next two weeks, the SBA will establish a seven-day pilot period for the RRF application portal and conduct extensive outreach and training on how to apply, application requirements, and where to apply. Participants in this pilot will be randomly selected from existing PPP borrowers in priority groups for RRF and will not receive funds until the application portal is open to the public.
Following the pilot, the application portal will be opened to the public. For the first 21 days that the program is open, the SBA will prioritize reviewing applications from small businesses owned by women, veterans, and socially and economically disadvantaged individuals. Following the 21-day period, all eligible applicants are encouraged to submit applications.
Content courtesy of Detroit Means Business.