Our colleagues at The Coppola Firm shared this great post on the new Restaurant Revitalization Fund for food, beverage, and hospitality-related businesses in the United States. https://coppola-firm.com/2021/04/restaurant-revitalization-fund/?fbclid=IwAR1d2fKxIIibgMESO0xTAFjzE_vFZiBG26EuFYbSDUbBy5P3zZ623xGHnuI and we thought we would help spread the word. The fund will provide up to $10,000,000 to keep hospitality companies in business throughout the pandemic.
Eligibility for the Restaurant Revitalization Fund
- Restaurants
- Food stands, food trucks, food carts
- Caterers
- Bars, saloons, lounges, taverns
- Snack and nonalcoholic beverage bars
- Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
- Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
- Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
- Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
- Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
- Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
Be Advised:
Documents evidencing that onsite sales to the public comprise at least 33.00% of gross receipts for 2019, which may include Tax and Trade Bureau (TTB) Forms 5130.9 or TTB. For businesses that opened in 2020, the Applicant’s original business model should have contemplated at least 33.00% of gross receipts in onsite sales to the public.
For applicants that are an inn: Documents evidencing that onsite sales of food and beverage to the public comprise at least 33.00% of gross receipts for 2019. For businesses that opened in 2020, the Applicant’s original business model should have contemplated at least 33.00% of gross receipts in onsite sales to the public.
Applicants may apply through SBA-recognized Point of Sale Restaurant Partners or directly via SBA in a forthcoming online application portal. Registration with SAM.gov is not required. DUNS or CAGE identifiers are also not required.
Visit the SBA Website for more details: https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund#section-header-0
Be prepared now. If you have questions about this or other grant funding opportunities, schedule a consult call with us to talk about your needs and what we can do for you. Schedule your consult call here.
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