Restaurant Revitalization Fund – New SBA Grant Opportunity for NYS Restaurants, Bars & Taverns

The Small Business Administration released more information and resources about the recently announced Restaurant Revitalization Fund (RRF).  This program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19.

The American Rescue Plan Act established the 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.

You can apply through SBA-recognized Point of Sale Restaurant Partners or directly via SBA in a forthcoming online application portal.

Download a copy of the SBA RRF Program Guide and application and receive email alerts as additional information about the Restaurant Revitalization Fund becomes available.

Author Lisa M. Flaherty is an expert in the field of business insurance. She is a licensed NYS P&C agent and website publisher. Her expertise is working with business owners eradicating critical coverage gaps in insurance policies, and working with employers to reduce workers compensation costs.  Her clients include franchised and non-franchised auto dealers, trucking for hire, contractors, retail, hospitality, wholesale distributors, and manufacturers.  Contact:  Lisa@tiains.com