- SBA’s Restaurant Revitalization Grant (RRG) allots $28.6 billion in COVID-19 relief for small- to medium-sized restaurants
The Small Business Administration’s (SBA) long-awaited RRG makes its $28.6 billion debut today—Monday, May 3, 2021—shortly after the SBA opened up the registration portal this past Friday. The agency will officially begin accepting applications for the grant today.
How to Register?
All applicants may submit applications as soon as the program opens, however, the SBA is prioritizing the review of applications from small businesses owned by women, veterans, and socially and economically disadvantaged groups.
Get your application in ASAP if you fall within these parameters because, after 21 days, the SBA will subsidize on a first-come, first-serve basis.
Register NOW through the SBA Portal HERE.
The RRG is open for eligible food service businesses such as restaurants, bars, food stands, caterers, etc. that were economically impacted by the COVID-19 pandemic.
How Much Funding Can I Expect?
The RRG is intended to cover eligible expenses incurred for the period of February 15, 2020 to March 11, 2021. The amount received is not to surpass “pandemic-related” revenue loss of the applicant. Funding requests must exceed $1,000 but must not exceed $5 million, per physical location.
For a full breakdown of eligibility requirements view the SBA’s full details HERE.
DSJCPA is here to help your business through COVID-19 and beyond. Call our offices for application advisory assistance and visit our website for a full list of our services.