Dear Restaurant Owners:
On Monday, May 3rd the Restaurant Revitalization Fund will go live and begin accepting grant applications! To help you prepare and be ready to apply, the SBA will allow restaurants to register starting on Friday, April 30th at 6 a.m. To make the process as smooth as possible, I’m hosting a virtual workshop with SBA San Francisco Office District Director Julie Clowes on Friday at 1 p.m..
The Restaurant Revitalization Fund provides a total of $28.6 billion in direct relief funds to restaurants and other hard-hit food establishments that have suffered economic and operational losses due to the COVID-19 pandemic. It is part of the American Rescue Plan that President Biden signed into law on March 11th. Restaurants can receive grants up to $10 million per business with no more than $5 million per physical location. Funds must be used for allowable expenses by March 11th, 2023. These are grants that will not have to be repaid, not loans.
Help for Restaurants is Here!
Friday, April 30, 2021
Please register here
The RRF was established in recognition of the enormous hardship the restaurant industry has suffered as a result of the coronavirus crisis. The restaurant industry is the largest employer in the U.S. with over 15 million workers – that’s more than the auto and airline industries combined. One in six restaurants have been forced to shutter their doors for good and over 2 million employees have lost their jobs. Restaurants are the core of our economy and our communities and with the RRF the Biden Administration and Congress are sending a clear message: Help is Here!
I look forward to seeing you on Friday!
All the best,