SBA Releases Restaurant Revitalization Fund Guide and Requirements–Application Process to Open Soon

The Small Business Administration launched a webpage on its Restaurant Revitalization Fund program, which provides emergency assistance for eligible restaurants, bars and other qualifying businesses affected by COVID-19.

MBA strongly supported including the $28.6 billion Restaurant Revitalization Fund program as part of the American Rescue Plan that was signed into law on March 11.

The new SBA webpage contains timely information for restaurants and borrowers as they contemplate applications for the grants, including:

  1. Program Guide (in multiple languages)
  2. Eligibility Requirements in relation to other SBA programs
  3. Draft Application Form to prepare for the opening of the process
  4. Sign Up Alert System to let you know when the application process begins

MBA members should consider sending the information to their affected borrowers ahead of the opening of the application process to ensure awareness of the grant program. MBA will continue to monitor the program and alert members upon the application process opening.