Latest Updates on Restaurant Revitalization Fund Grant Applications, Timing
Below is a brief update on where things stand on the Restaurant Revitalization Fund Grant (RRFG) program.
The IRA and our partners at the National Restaurant Association have had ongoing conversations with the Small Business Administration (SBA) since the American Jobs Plan was signed into law.
Timing
We anticipate the release of an official RRFG application, an informational SBA website, and a program guide as soon as this week or next week. Once the application is released, restaurants will have time to receive and understand the form before the application process begins.
Indicators, Draft Application
Click here to view a draft, unofficial RRFG application that has not been publicly released by the SBA. This information helped inform the Association’s FAQ, but is still under review by the SBA. We share this to provide context for restaurant operators, especially as ambitious consultants or “grant writers” offer services to navigate unforeseen grant materials. The latest, most useful information will be coming from the IRA and National Restaurant Association.
Efficiency
The RRFG program is expected to run on a government platform that processes grant applications similar to the Paycheck Protection Program (PPP). The government platform that operates PPP has approved nearly four million loans in 2021. While RRFG is a grant program, not a loan program, the PPP platform provides assurance that the system will be conditioned to meet the tremendous demand of restaurants. This is a separate platform from the SBA’s Shuttered Venues Operator Grant program, which had to temporarily shut down last week due to technical problems.
More to come!
Stay tuned for more updates.
Click here to review the latest FAQ on the Restaurant Revitalization Fund.