Applications for assistance from the Small Business Administration Restaurant Revitalization Fund will be accepted beginning at 10 a.m. Monday, May 3.
The application portal will open for restaurants to preregister at 7 a.m. Friday, April 30.
The Pikes Peak Small Business Development Center is encouraging potential recipients to apply as soon as the application goes live, as the funds are anticipated to go quickly.
The American Rescue Plan Act established the $28.6 billion Restaurant Revitalization Fund to provide funding to help restaurants and other eligible businesses keep their doors open.
Besides restaurants, food stands and trucks, caterers, bars, bakeries, brewpubs and tasting rooms, breweries, wineries distilleries and inns with onsite sales of food and beverages may be eligible for the relief.
According to the SBA, this program will provide recipients with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location.
Recipients will not be required to repay the grants as long as the funds are used for eligible purposes by March 11, 2023.
The SBDC compiled the following links to help businesses prepare their applications:
- View the application here.
- View a sample application here.
- View the National Restaurant Association's FAQs here.
- View the SBA's program guide here.
- View the SBA Knowledge Base here.
The SBDC also posted a webinar on the program with Sen. John Hickenlooper, the National Restaurant Association, the Small Business Administration and Messner Reeves LLP, which can be viewed here. View the presentation slides here and here.
Applicants can apply for Restaurant Revitalization Fund grants through one of the following point-of-sale service providers:
- Full-Service Vendors, providing application submission and automation for current customers
Participating vendors providing supporting documentation and knowledge support for current customers include:
Applications can be submitted online here or by phone at 844-279-9989. Note that phone applications may be subject to a longer processing time.
For additional information, visit the sba.gov page on the program.