Restaurant Revitalization Fund is an SBA grant program that will provide restaurants, bars, and other similar places of business that serve food or drink with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are NOT required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. Application portal opens Friday, April 30.

We are here to assist. Below are resources to help as you prepare to apply.

– Beginning Monday, May 3, 2021 meet one-on-one with an SBDC Advisor for help applying for the Restaurant Revitalization Fund. Click here to book a virtual meeting that fits your schedule.

Click here to download a resource document created by the Silicon Valley Small Business Development Association (SBDC), the San Jose Downtown Association, and The SVO.

Who Can Apply:

Eligible entities who have experienced pandemic-related revenue loss include:
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

Where/When to Apply:

Registration for the SBA application portal will begin on Friday, April 30, 2021. Applications will open on Monday, May 3, 2021. You can apply directly on the SBA online application portal: https://restaurants.sba.gov.

For the first 21 days the program is open, SBA will accept applications from all eligible applicants, but prioritize applications from small businesses owned by women, veterans, or socially and economically disadvantaged individuals. Following the 21-day period, all eligible small businesses may apply.

If you would like to prepare your application, you can view the sample application form by clicking here.

Documents You'll Need to Apply:

– Verification for Tax Information: IRS Form 4506-T, completed and signed by Applicant. Completion of this form digitally on the SBA platform will satisfy this requirement.
– Gross Receipts Documentation: Any of the following documents demonstrating gross receipts and, if applicable, eligible expenses
       – Business tax returns (IRS Form 1120 or IRS 1120-S)
       – IRS Forms 1040 Schedule C; IRS Forms 1040 Schedule F
       – For a partnership: partnership’s IRS Form 1065 (including K-1s)
       – Bank statements
       – Externally or internally prepared financial statements such as Income Statements or Profit and Loss Statements
       – Point of sale report(s), including IRS Form 1099-K

– For applicants that are a brewpub, tasting room, taproom, brewery, winery, distillery, or bakery:
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 who 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 who 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.

What the Funds Can Be Used For:

Funds may be used for specific expenses including:

– Business payroll costs (including sick leave)
– Payments on any business mortgage obligation
– Business rent payments (note: this does not include prepayment of rent)
– Business debt service (both principal and interest; note: this does not include any prepayment of principal or interest)
– Business utility payments
– Business maintenance expenses
Construction of outdoor seating
– Business supplies (including protective equipment and cleaning materials)
– Business food and beverage expenses (including raw materials)
– Covered supplier costs
– Business operating expenses

Payment Calculations:

#1: For applicants in operation prior to or on January 1, 2019:
– 2019 gross receipts minus 2020 gross receipts minus PPP loan amounts

#2: For applicants that began operations partially through 2019:
(Average 2019 monthly gross receipts x 12) minus 2020 gross receipts minus PPP loan amounts

#3: For applicants that began operations on or between January 1, 2020 and March 10, 2021 and applicants not yet opened but have incurred eligible expenses:
– Amount spent on eligible expenses between February 15, 2020 and March 11, 2021 minus 2020 gross receipts minus 2021 gross receipts (through March 11, 2021) minus PPP loan amounts

For those entities who began operations partially through 2019, you may elect (at your own discretion) to use either calculation 2 or calculation 3.

For the purposes of this program, gross receipts does not include:
– Amounts received from Paycheck Protection Program (PPP) loans (First Draw or Second Draw)
– Amounts received from Economic Injury Disaster Loans (EIDL)
– Advances on EIDL (EIDL Advance and Targeted EIDL Advance)
– State and local grants (via CARES Act or otherwise)
– SBA Section 1112 payments


Payment Amount:

SBA may provide funding up to $5 million per location, not to exceed $10 million total for the applicant and any affiliated businesses. The minimum award is $1,000.

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