SBA Restaurant Revitalization

The restaurant industry has been among the hardest-hit sectors during the economic downturn caused by the COVID-19 pandemic. To help bring jobs back and revive the industry, the American Rescue Plan established the $28.6 billion Restaurant Revitalization Fund (RRF) spearheaded by the U.S. Small Business Administration (SBA).

The RRF seeks to provide non-repayable funds to eligible food service businesses. Such applicants include restaurants, food stands, food trucks, food carts, caterers, bars, saloons, lounges, taverns, and snack and nonalcoholic beverage bars. In addition, provided at least one third of total sales are onsite sales to the public, eligible applicants also include bakeries, brewpubs, breweries/microbreweries, wineries, distilleries, and inns. Finally, licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products are also eligible.

Throughout the week of April 26, the SBA, the North Carolina Small Business & Technology Development Center, and the four NC Women’s Business Centers will provide multiple free virtual events on the Restaurant Revitalization Fund. These opportunities will provide attendees with an overview of the application process, eligibility requirements, and more.

Upcoming events include:

When: Monday, April 26 at 2 p.m.

Who: The Western Women’s Business Center, the Small Business Center Network’s Western Region, and the SBA

Where: Zoom Webinar, geared toward western North Carolina

When: Monday, April 26 at 6 p.m.

Who: Women’s Business Center of Fayetteville and the SBA

Where: Zoom Webinar, geared toward Wilmington and Fayetteville areas

When: Tuesday, April 27 at 2 p.m.

Who: Women’s Business Center of North Carolina and the SBA

Where: Zoom Webinar, geared toward the Raleigh and northeastern NC areas

When: Wednesday, April 28 at 10 a.m.

Who: NC Small Business & Technology Development Center and the SBA

Where: Zoom Webinar

When: Thursday, April 29 at noon

Who: Women’s Business Center of Charlotte (WBCC) and the SBA

Where: Facebook - @WBCCharlotte, geared toward the Charlotte and Greensboro areas

Registration not required

When: Thursday, April 29 at 2 p.m.

Who: NC Small Business & Technology Development Center and the SBA

Where: Zoom Webinar

 As the SBA builds and prepares to roll out the program, the SBA website has a dedicated page that is the best source for up-to-date information for eligible restaurants interested in the RRF. Visit https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund?utm_medium=email&utm_source=govdelivery

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