The American Rescue Plan Act passed in March 2021 established the Restaurant Revitalization Fund (“RRF”) to provide funding to restaurants and other eligible businesses. The RRF is administered by the Small Business Administration (SBA) and will provide funding equal to pandemic-related revenue loss.
Funding is limited to $10 million per business and no more than $5 million per physical location.
Funds do not have to be repaid, if utilized for eligible expenses no later than March 11, 2023.
Eligible entities who have experienced pandemic-related revenue loss include:
You can apply through SBA-recognized Point of Sale (POS) vendors or directly via SBA in a forthcoming online application portal: Restaurant Revitalization Award Portal .
Participating POS providers include Square, Toast, Clover, NCR Corporation (Aloha). If you are working with Square or Toast, you do not need to register beforehand on the Restaurant Revitalization Award Portal application portal.
Registration with SAM.gov is not required. DUNS or CAGE identifiers are also not required. (This is an update from prior guidance.)
You may view a sample of the application.
Additional documentation required:
For applicants that are a brewpub, tasting room, taproom, brewery, winery, distillery, or bakery:
For applicants that are an inn:
For the purposes of this program, gross receipts do not include:
Registration for the SBA application portal will begin on Friday, April 30, 2021, at 9 am ET. Applications will open on Monday, May 3, 2021, at noon ET.
SBA will accept applications from all eligible applicants, but they will only process and fund priority group applications on days 1-21. See “Priority Groups” below. For days 22 and until the funds are exhausted, SBA will accept applications from all eligible applicants and process applications in the order in which they are approved by SBA.
Calculation 1: for applicants in operation prior to or on January 1, 2019:
Calculation 2: for applicants that began operations partially through 2019:
Calculation 3: for applicants that began operations on or between January 1, 2020 and March 10, 2021 and applicants not yet opened but have incurred eligible expenses:
For those entities who began operations partially through 2019, you may elect (at your own discretion) to use either calculation 2 or calculation 3.
Funds May Be Used For Specific Expenses Including
For more information or assistance, please contact the tax professionals at your local Kemper office