Can Your Restaurant Apply For The Restaurant Revitalization Fund Grant?
While most industries were impacted by COVID-19 in the last year, few were hit as hard as the hospitality industry. The American Rescue Plan Act recognized the need to provide additional assistance to eligible restaurants, bars, and other qualifying businesses by establishing the Restaurant Revitalization Fund (RFF). This program provides funding equal to COVID-19 revenue losses up to $10 million per business with no more than $5 million per location. The funds do not have to be repaid if they are used for eligible uses no later than March 11, 2023. This program opened on May 3 and has already provided economic relief to 16,000 applicants.