The U.S. Small Business Administration has announced a last call for Restaurant Revitalization Fund applications; the application portal will stay open until May 24 at 8 p.m. ET.
According to the SBA, they have received more requests for funds than are available from operators in both the category of restaurants with 2019 gross receipts of $50,000-$500,000 and the $500,000-$1.5 million category, but more than $210 million is still available for operators with 2019 gross receipts under $50,000. While all restaurants are encouraged to keep applying, the restaurants with the smallest revenues will be given priority.
So far, the Restaurant Revitalization Fund program has received more than 303,000 applications requesting $69 billion in funds, with 57% of requests coming from women, socially and economically disadvantaged individuals and veterans. Almost 38,000 applicants have already been approved for more than $6 billion.
There are no updates on if or when another round of funding will be approved by Congress.
For firsthand accounts on what it’s like to apply for an receive a grant from the Restaurant Revitalization Fund, check out our interview with the co-owner of Las Gemelas, the first restaurant to receive an RRF grant.
Read more about the last call to apply for the Restaurant Revitalization Fund on Restaurant Hospitality.
Contact Joanna at [email protected]
Find her on Twitter: @JoannaFantozzi