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Walnut Creek Magazine

Restaurant Revitalization Fund

May 03, 2021 07:19AM ● By Harper Klein
Registration goes LIVE at 9 am PST for the Restaurant Revitalization Fund aka the $28.6 billion in government grants covering full-year 2020 losses (up to $10 million). Beginning Monday, May 3, restaurants & bars can apply for federal grants with initial priority going to businesses owned by women, veterans, or people from economically and socially disadvantaged groups.

This first-of-its-kind relief effort comes after the Independent Restaurant Coalition’s yearlong campaign advocating for independent restaurant and bar relief beginning in April 2020 with a letter to Congress that was ultimately signed into law by President Biden in March 2021 as part of the American Rescue Plan.

Debt-free support for annual revenue losses between 2019-2020 includes expenses for:
Payroll (excluding employee compensation over $100,000/year), employee benefits, and paid sick leave
Mortgage, rent, and utilities
Maintenance
Outdoor seating construction
Supplies, protective equipment, and cleaning materials
Food and beverage
Operational expenses
Principal payments for business debt

Learn more about the RRF at SBA.gov/restaurants and get updated resources from the IRC here.

ABOUT THE IRC: The Independent Restaurant Coalition was formed by chefs and independent restaurant owners across the country who have built a grassroots movement to secure vital protections for the nation’s 500,000 independent restaurants and the more than 11 million restaurant and bar workers impacted by the coronavirus pandemic.
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