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The original item was published from 4/30/2021 4:29:47 PM to 6/1/2021 12:00:02 AM.

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Business Seminars and Webinars

Posted on: April 30, 2021

[ARCHIVED] May 3 Opens the Restaurant Revitalization Fund Grant Program!

SBA is awarding funding thru the Restaurant Revitalization Program to restaurants, bars, and other similar places of business that serve food or drink - to provide support to eligible entities that suffered revenue losses related to the COVID-19 pandemic.

Restaurant Revitalization Fund (RRF)

RRF is a program to provide emergency grant assistance to eligible restaurant and other qualifying businesses who were negatively impacted by the pandemic. This program will open on May 3, 2021.  

 

  • Eligibility
  • 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

 

  • Steps You Can Do Now to Prepare: 

 

  • Prepare and have on hand your gross receipts documentation ready such as any of the following:
  • 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

 

If you are a brewpub, tasting room, taproom, brewery, winery, distillery, bakery, or inns, you will need to show evidence of onsite sales being at least 33.00% of gross receipts

 

NOTE – When the program opens on Monday, May 3rd, the first 21 days the following will have priority to apply: 

  • Women,
  • Veterans, and,
  • Socially and economically disadvantaged individuals (e.g., Black Americans; Hispanic Americans; Native Americans (including Alaska Natives and Native Hawaiians); Asian Pacific Americans; or Subcontinent Asian Americans)  

 

More information, please click HERE 

Additional Info...
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