Today is the day! The Restaurant Revitalization Fund (RRF) application is now open through the Small Business Administration’s (SBA) application portal. The SBA is administering this new $28.6-billion COVID-19 relief fund that will provide restaurants with financial support equal to their pandemic-related revenue losses.
For program details like eligibility, funding amount, allowable use of funds, and more, check out the SBA’s dedicated webpages. To stay current on funding programs available through the SBA, sign up for their email updates. Locally, questions can be directed to the Michigan Small Business Development Center at Western Michigan University at 269.387.6004.
Restaurant owners who need assistance in making application are also encouraged to attend the May 6 webinar, presented by the SBA and the Women's Business Center at Cornerstone Alliance. The webinar begins at 1 p.m. this Thursday.
With the Restaurant Revitalization Fund application portal opening today, owners of restaurants, food trucks, bars, bakeries and related businesses can complete the first step of registration by creating an account. The May 6 webinar will then provide insight on application requirements, eligibility and program guidelines.
The launch of the new Restaurant Revitalization Fund is timely for the hospitality industry in southwest Michigan,” said Brandon Campbell, director of the Women’s Business Center. Owning a restaurant during the pandemic has proven to be a challenge, especially in the state of Michigan, while navigating restrictions and relying on limited income. As a result of restriction and capacity limitations, thousands of Michigan restaurants have closed since the beginning of the pandemic. The Restaurant Revitalization Fund is a major resource to help this industry.