Update For Restaurants And Bars | Ocean Beach San Diego CA | News

Update For Restaurants And Bars

SBA Announces Official Restaurant Revitalization Fund Application & Guidelines

RESTAURANT REVITALIZATION FUND (RRF) GRANT

Application will be live within two weeks - earliest estimate is April 30th

Important Information to Note Before Applying:

  • This is first come, first serve
  • Best to apply as soon as it goes live as this will be competitive
  • First 21 days: only women, veteran, minority and socially & economically disadvantaged businesses will be given funds (self certify you are 51% owned)
  • Day 22: all businesses will be able to get funded
  • You are NOT required to have a DUNS number or SAM registration to apply
  • You cannot apply for this if you applied for the SVOG program
  • It will be disbursed as a direct payment like the EIDL Advance (i.e. not through a bank only through SBA)

Grant Details - Click HERE for HELPFUL FLYER

  • Up to $5 million per location, $10 million per entity
  • Eligible entities include: Restaurants, Caterers, Inns, Taverns/Bars/Lounges, Brewpubs, Tasting Rooms, Taprooms, Food Trucks
  • Flexible uses; Grant money not spent by 3/31/2023 must be returned to the federal government

Notes For Filling Out Application:

  • Make sure all information matches what is on your tax forms (that is personnel names, business names and addresses match) - this will help make sure your application is able to be approved
  • Sales Tax forms will help determine the 33% backup for bakeries, brewpubs, breweries, wineries and inns
  • If you did receive a PPP or EIDL, your total grant request will subtract the loan amount

Documents Needed to Apply:

  • Application SBA Form 3172
  • Tax Verification - IRS Form 4506T
  • 2019 Gross Revenue (tax filing)
  • 3 months of bank statements
  • 2020 Gross Revenue (tax filing or business plan if you launched in 2020)
  • PPP loan approvals (if any)

Links, Information & Sample Application:

START NOW in Getting Everything Ready and Get Support In Applying:

Our team is here to support you in applying and answering questions. Please sign up HERE or call (415) 482-1819. If you are already working with a SBDC Advisor who assisted you with any funding source, please reach out to them.

UPCOMING RRF WEBINARS

Wednesdays May 5th & May 19th at 10:30 AM

Register Here

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