Details on the SBA's Restaurant Revitalization Fund
April 28, 2021
To help you prepare for the Restaurant Revitalization Fund launch, here are some steps you can take.
STEP 1: Visit SBA.gov/restaurants to determine if you’re eligible for a grant. This site has all of the documentation and instructions you’ll need.
STEP 2: Join a restaurant relief round table to learn how you can prepare to apply. We’re hosting six events with guests from the Small Business Administration (SBA) this week; you can join any of them and also watch the recordings on demand. Register on our resources page here.
STEP 3: Make sure you have the information you’ll need to apply ready to go:
- The EIN/SSN/ITIN and address for yourself and anyone that owns more than 20% of your business
- PPP Loan numbers
- List of affiliated businesses. An affiliate business is a business in which the eligible Applicant business has an ownership interest of not less than 50 percent, or in which the eligible Applicant business has the contractual authority to control the direction of the other business, based on arrangements or agreements in place as of March 13, 2020
- If you’ve filed bankruptcy, proof of your approved reorganization plan
- Gross Receipts Documentation: Any of the following documents demonstrating gross receipts and, if applicable, eligible expenses:
- Business tax returns (IRS Form 1120 or 1120-S)
- IRS Forms 1040 Schedule C or F
- For a partnership: partnership’s IRS Form 1065 (including K-1s)
- Bank statements
- Financial statements such as Income Statements or Profit and Loss Statements
- POS report(s), IRS Form 1099-K
- For applicants that opened in 2020: Three months of bank statements, 2020 Federal Tax Returns filed or 2020 Federal Tax Returns (Prepared but not yet filed), 2020 and 2021 Point of Sales Reports, CPA Comfort Letter, Payroll Documents (941s), Outdoor Seating Expenditures (Invoices / Payments), Business Debt (lender loan statements)
- 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
STEP 4: If needed, reach out to the SBA for assistance preparing your application. Call center support is available at 1-844-279-8898 (hours: Monday-Friday 8am-8pm ET) and you can also contact your local SBA District Office.
STEP 5: Apply on day one—or as soon as possible—to start your process and help demonstrate our industry’s need for this program. Stay tuned here; we’ll let you know as soon as applications are live.
Thank you to our partners at the
Independent Restaurant Coalition for this critical information.
You can watch the PPSI & other business partners discussion with SBA Administrator Guzman on the Restaurant Revitalization Fund on our Facebook page here.
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