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Economic & Community Development News

Posted on: May 19, 2021

05/19/21: Restaurant Revitalization Fund Portal will close Monday, May 24th at 8pm

Trumbull Economic Development

Last Call: Administrator Guzman Announces Final Push for Restaurant Revitalization Fund Applications 

Qualifying eating establishments should submit applications by the May 24th deadline 

Administrator Isabella Casillas Guzman announced that eligible eating establishments have until Monday, May 24, 8 p.m. ET, to submit applications to 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 Administrator Guzman. “We are committed to creating easy to navigate programs and removing barriers that have kept many of our nation’s smallest businesses from accessing these crucial economic lifelines. 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.” 

“The numbers speak to the commitment SBA made to educating owners and operators through their work with the Association, our state partners, and other industry support organizations,” said Tom Bené, President & CEO of the National Restaurant Association. “The funds that have already been distributed will help accelerate the recovery of thousands of restaurants and bring much-needed capital to communities across the country." 

The $28.6 billion Restaurant Revitalization Fund signed into law by President Joe Biden established an initial $5 billion set-aside established by Congress for applicants with gross receipts not more than $500,000. To further ensure an equitable distribution of funds, Administrator Guzman created two additional funding allocations to ensure the smallest of the small restaurants and other eating establishments have equitable access: 1) $500 million for applicants with 2019 gross receipts not more than $50,000, and 2) $4 billion for applicants with 2019 gross receipts between $500,000 and $1,500,000. In the first two weeks of the RRF program, and after 600 targeted community outreach events in multiple languages, SBA has received from priority groups: 

  • 12,898 applications from businesses with not more than $50,000 in pre-pandemic revenue requesting $290 million in funds  
  • 73,671 applications from businesses with not more than $500,000 in annual pre-pandemic revenue requesting $6.1 billion in funds  
  • 34,010 applications from businesses with $500,000 - $1,500,000 in annual pre-pandemic revenue requesting $8.4 billion in funds  

Designed to ensure the smallest of small eating establishments get the relief needed, set-asides continue a commitment to an equitable distribution of funds to hard-hit communities. Because SBA still has potential set-aside funding available for eligible establishments with 2019 annual revenue of not more than $50,000, it will keep the application portal open until Monday, May 24, 8 p.m. ET. While all qualified restaurants may submit applications, more than $220 million of a $500 million set-aside remains in the Restaurant Revitalization Fund (RRF). Eligible establishments that meet this revenue standard are encouraged to apply through SBA-recognized point-of-sale vendors or directly via the SBA online application portal.  

To date, the RRF program has received more than 303,000 applications representing over $69 billion in requested funds, and nearly 38,000 applicants have been approved for more than $6 billion. Of the overall submitted applications, 57 percent came from women, veterans, and socially and economically disadvantaged business owners. During the first two weeks of the program, SBA has received applications from: 

  • More than 122,000 women business owners  
  • More than 14,000 veteran business owners  
  • More than 71,000 economically and socially disadvantaged individuals  

For those interested in applying to the Restaurant Revitalization Fund, visit sba.gov/restaurants.   APPLICATION PORTAL

Who can apply

Eligible entities who have experienced pandemic-related revenue loss include: 

  • 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 

How to apply 

You can apply through SBA-recognized Point of Sale (POS) vendors or directly via SBA in a forthcoming online application portal: https://restaurants.sba.gov. Participating POS providers include Square, Toast, Clover, NCR Corporation (Aloha), and Oracle. If you are working with Square or Toast, you do not need to register beforehand on the https://restaurants.sba.gov application portal. 

Registration with SAM.gov is not required. DUNS or CAGE identifiers are also not required. 

If you would like to prepare your application, view the sample application form. You will be able to complete this form online. Please do not submit RRF forms to SBA at this time. 

SBA Form 3172 

Additional documentation required:

  • Verification for Tax Information: IRS Form 4506-T, completed and signed by Applicant. Completion of this form digitally on the SBA platform will satisfy this requirement. 
  • Gross Receipts Documentation: Any of the following documents demonstrating gross receipts and, if applicable, eligible expenses 
  • Business tax returns (IRS Form 1120 or IRS 1120-S) 
  • IRS Forms 1040 Schedule C; IRS Forms 1040 Schedule F 
  • For a partnership: partnership’s IRS Form 1065 (including K-1s) 
  • Bank statements 
  • Externally or internally prepared financial statements such as Income Statements or Profit and Loss Statements 
  • Point of sale report(s), including IRS Form 1099-K  

Allowable use of funds

Funds may be used for specific expenses including:

  • Business payroll costs (including sick leave) 
  • Payments on any business mortgage obligation 
  • Business rent payments (note: this does not include prepayment of rent) 
  • Business debt service (both principal and interest; note: this does not include any prepayment of principal or interest) 
  • Business utility payments 
  • Business maintenance expenses 
  • Construction of outdoor seating 
  • Business supplies (including protective equipment and cleaning materials) 
  • Business food and beverage expenses (including raw materials) 
  • Covered supplier costs 
  • Business operating expenses 

Priority groups

  • A small business concern that is at least 51 percent owned by one or more individuals who are: 
  • Women, or 
  • Veterans, or 
  • Socially and economically disadvantaged (see below). 
  • Applicants must self-certify on the application that they meet eligibility requirements 
  • Socially disadvantaged individuals are those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as a member of a group without regard to their individual qualities. 

Economically disadvantaged individuals are those socially disadvantaged individuals whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities as compared to others in the same business area who are not socially disadvantaged.  

 Restaurant Revitalization Fund INFORMATION 

Get help with your application 

Federal guidelines require that we provide the same and equal information to each applicant. Therefore, SBA staff are limited on responses we can provide to applicants, including specific questions regarding RRF eligibility, potential award amount, and other detailed information.  

Some key information to know:

  • For detailed information about how to calculate your award amount, please consult page 7-9 of the RRF program guide.  
  • The IRS 4506T form is signed with your application during the e-sign process. You do not need to submit an additional 4506T. 
  • If you are entering a state in the address section(s) use the abbreviation in capital letters (e.g., PA, TX, ME, WA, etc.).  

For assistance preparing your application, you can access the following:

You can also watch a previously recorded webinar training to help you prepare:

For assistance with your submitted application:

  • Submit a message using the application platform inbox (preferred) 
  • Call center support: 844-279-8898