SBA makes final push for Restaurant Revitalization Fund applications

WASHINGTON, D.C. (WDAM) - Restaurants and eateries that have lost revenue in the past year due to the coronavirus pandemic have until Monday to apply for relief benefits.

The Small Business Administration announced that eligible businesses have until Monday, May 24, 2021, at 7 p.m. CST, to submit applications for the Restaurant Revitalization Fund.

“If our nation’s food and beverage industry is going to fully recover, we must ensure as many of the hardest-hit businesses get the economic aid they need,” said SBA Administrator Isabella Casillas Guzman. “The SBA will continue to be as entrepreneurial as the small businesses we serve, and we will continue to work as fast as possible to deliver the relief our businesses need so urgently.”

More than $68 billion has been requested so far by more than 303,000 applicants, exceeding the $28.6 billion Congress gave for the program.

All restaurants, bars, caterers, food trucks, etc., who lost revenue in 2020 should submit applications by the deadline. Those with annual revenue of not more than $50,000 are heavily encouraged to apply as $200 million in set-aside funds remain for that group.

Click here if you are interested in applying for RRF.