SBA announces $28.6 BILLION “Restaurant Revitalization Fund” (RRF)

The American Rescue Plan Act (ARPA) was endorsed into law on March 11. It conveys direct help to restaurants through a $28.6 billion Restaurant Revitalization Fund (RRF). The RRF gives tax-exempt grants by means of the Small Business Administration (SBA).

One of the hardest-hit ventures during the COVID-19 pandemic has been restaurants, with closures and limitations removing income openings. The recently passed American Rescue Plan Act (ARPA) means to help restaurants, bars and related businesses with another award program called the Restaurant Revitalization Fund (RRF).

Who is eligible for RRF grants?

RRF awards are for businesses where “general society or benefactors amass for the basic role of being served food or drink” including, yet not restricted to:

Restaurant, food stand, food truck, food cart, caterer, saloon, inn, tavern, bar, lounge, brewpub, tasting room, taproom, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products.

Probably, amusement scenes that serve food or drink, however not as their basic role, are ineligible. For Example, concert halls, nightclubs, movie theaters, and sports venues. These settings may in any case look for alleviation under the Shuttered Venue Operators Grant (SVOG) program likewise directed by the SBA.