Small Business Administration Administrator Isabella Casillas Guzman today announced key details on application requirements, eligibility and a program guide for the Restaurant Revitalization Fund (RFF).
The restaurant industry has been among the hardest-hit sectors during the economic downturn caused by the COVID-19 pandemic. To help bring jobs back and revive the industry, the American Rescue Plan established the $28.6 billion Restaurant Revitalization Fund at the U.S. Small Business Administration. The SBA will administer the funds to the hardest-hit small restaurants.
“Today, we are starting the process to help restaurants and bars across the country devastated by the pandemic, and this is our message: Help is here. With the launch of the Restaurant Revitalization Fund, we’re prioritizing funding to the hardest-hit small businesses – irreplaceable gathering places in our neighborhoods and communities that need a lifeline now to get back on their feet,” said Guzman. “And, thanks to clear directives from Congress, we’re rolling out this program to make sure that these businesses can meet payroll, purchase supplies and get what they need in place to transition to today’s COVID-restricted marketplace.”
Guzman promised that the RRF application process would be streamlined and “free of burdensome, bureaucratic hurdles – while still maintaining robust oversight.”