Attention Plymouth Businesses,

The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants 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 are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.

Restaurant Revitalization Fund Grants from the SBA will be opening soon for our restaurant industry businesses.

When the program opens, it is important to get applications in as soon as possible, as funding will be released in the order the applications are approved.

https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund#section-header-0

A sample application is already available, although the SBA has asked that applications not be submitted at this time.

https://www.sba.gov/document/sba-form-3172-restaurant-revitalization-funding-application-sample

However, the SBA also recommends that you double and triple-check your applications, to make sure they are complete and accurate, as insufficient applications may get put at the back of the line.

The below listed are eligible business types.

  • Restaurants
  • Food stands, food trucks, food carts
  • Caterers
  • Bars, saloons, lounges, taverns
  • Snack and nonalcoholic beverage bars
  • Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
  • Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
  • Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
  • Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
  • Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
  • Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products

Sign up to receive email alerts from SBA as additional information about the Restaurant Revitalization Fund becomes available.

The website shows application requirements, documentation of decrease in gross receipts from 2019 to 2020 is the main item.

Finally, note that this program is a grant, not a loan. These funds will not need to be repaid as long as they are used for eligible purposes within 2 years.

 Be ready to submit your application as soon as this program is launched.

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