Restaurant Revitalization Fund
Indiana SBDC is helping Hoosier restaurants gain access to the Restaurant Revitalization Fund
The Restaurant Revitalization Fund, a program of the U.S. Small Business Administration (SBA), provides emergency funding assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19.
This program will provide eligible businesses with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Eligible expenses include business expenses such as payroll, supplies, and operating expenses, construction of outdoor seating and some business debt. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.
SBA will begin accepting applications on Monday, May 3, 12 PM EDT, but will only process and fund priority group applications for the first 21 days. However, all eligible applicants are encouraged to apply starting Monday, May 3, 12 PM EDT as non-priority group applications will be processed in the order received after the priority period ends. Priority groups include businesses that are at least 51% owned by one or more individuals who are women, veterans, or socially and economically disadvantaged.
A walkthrough of the application portal can be found here.
For additional information and to apply, please visit sba.gov/restaurants.