Congressman Tim Ryan Announces Opening of the Restaurant Revitalization Fund (RRF) on Friday, April 30
Washington, DC – Congressman Tim Ryan (OH-13) announces the Restaurant Revitalization Fund (RRF) will begin registrations on Friday, April 30 at 9 a.m. EDT and applications for assistance will be available on Monday May 3 at 12 noon EDT. For the first 21 days that the program is open, the SBA will prioritize funding applications from businesses owned and controlled by women, veterans, and socially and economically disadvantaged individuals. All eligible applicants are encouraged to submit applications as soon as the portal opens. Following the 21 days, all eligible applications will be funded on a first-come, first-served basis.
“Restaurants are the second-largest private employer in this country, and for countless other Americans they provide the first opportunity for a job,” said Congressman Tim Ryan. “These businesses are the beating heart of communities across our state, but unfortunately the pandemic put their survival in jeopardy. I am proud to have worked in Congress to bring these vital funds back to Ohio and look forward to continuing to work with our restaurant owners to provide them the resources they need to stay in business.”
“All throughout the pandemic, restaurants have been among the hardest hit. The Restaurant Revitalization Fund is designed to provide much needed relief. Help is here. I encourage everyone to register when it opens up on Friday, and I especially encourage those in the priority group to apply during the first 21 days, beginning this Monday,” said Gil Goldberg, District Director of the U.S. Small Business Administration's Northern Ohio District Office.
Established under the American Rescue Plan, 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 experienced economic distress and significant operational losses due to the COVID-19 pandemic. 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. Funds must be used for allowable expenses by March 11, 2023. Applicants may not own or operate more than 20 locations, regardless of name or type of business at those locations.
Webinars on the RRF will be held by the SBA Northern Ohio District Office on April 29, 30 and May 4 for Underserved Small Businesses:
Thursday April 29: 3:30pm Call in (audio only) at +1 202-765-1264, 251576542# Phone Conference ID: 251 576 542#
Friday April 30: 9:30 am Call in (audio only) +1 202-765-1264, 336942080# Phone Conference ID: 336 942 080
Tuesday May 4: 1:00 pm Call in (audio only) +1 202-765-1264, 853187157# Phone Conference ID: 853 187 157#
In preparation, SBA recommends qualifying applicants familiarize themselves with the application process in advance to ensure a smooth and efficient application experience, specifically by:
- Registering for an account in advance at restaurants.sba.gov starting Friday, April 30, 2021, at 9 a.m. EDT.
- Reviewing the official guidance, including program guide, frequently asked questions, and application sample.
- Preparing the required documentation.
- Working with a point-of-sale vendor or visiting restaurants.sba.gov to submit an application when the application portal opens. [Note: If an applicant is working with a point-of-sale vendor, they do not need to register beforehand on the site.