Applications Open for Restaurant Revitalization Fund
Applications have opened for eligible restaurants that were left starving for business throughout 2020 in the midst of the coronavirus pandemic.
Registration for the Restaurant Revitalization Fund, the $28.6 billion effort from the Small Business Administration launched Friday, April 30. The fund provides foodservice owners the opportunity to apply for crucial funding following restaurant shutdowns, capacity limits, and staff shortages.
Restaurants, food carts, and food trucks along with bars, bakeries, wineries, and inns will be able to apply for the funding.
“Restaurants are the core of our neighborhoods and propel economic activity on main streets across the nation. They are among the businesses that have been hardest hit and need support to survive this pandemic,” SBA Administrator Isabella Casillas Guzman said in a statement Tuesday announcing the application opening. “We want restaurants to know that help is here.”
How to apply:
Owners can access the application via the online application portal which goes live today at noon EST or through the SBA-recognized Point of Sale (POS) vendors.
Applicants will need to have verification for tax information including an IRS Form 4506-T in addition to gross earnings documentation. For more information visit SBA.gov.
Where owners can apply funds:
Restaurant owners can utilize the grants for business payroll costs including sick leave, mortgage payments on the foodservice location, utility payments, and maintenance expenses along with the construction of outdoor seating. Cleaning materials and other operating expenses are also applicable.
The Alliance to Save the American Dream is a non-profit organization dedicated to three core goals.
1. Develop an Ideas Factory to give small businesses and industries a centralized place to share innovative ideas that must be considered.
2. Build a unique Resources portal for small businesses to go to for answers or resources that address a wide range of issues or challenges.
3. Offer a new networking opportunity for small business owners to connect while also giving them a platform to share their own personal stories.
For more information, visit savetheamericandream.com.