There is still no specified release date for the Restaurant Revitalization Fund grant applications, Small Business Administration associate administrator Patrick Kelley said in a Q&A with the Independent Restaurant Coalition on Tuesday. But Kelley revealed some important details operators need to know about where and how to apply when applications go live.
The web application will be available at restaurants.sba.gov (though that link is not live yet) and the applications are “on the precipice of opening,” he said, though would not commit to a date.
Here are some details the SBA revealed in this Q&A:
What the timeline will look like: Two weeks after applications with supplementary materials are posted on restaurants.sba.gov (including the trial period), they will begin distributing funds. Applications will be posted “we hope, shortly.”
Not everyone will get money, even if they’re eligible: Unfortunately, Kelley said, the voted-on funding is not enough to meet the demand of the industry and many eligible applicants will not be able to receive funding due to shortages of cash and high demand. Due to this demand, Kelley is strongly recommending operators apply on the first day. If Congress sees that there is high demand, he said, there could be another round of funding.
For more information on RRF eligibility, documents applicants need to have on hand and how grants are calculated, check out the recent Q&A published by the National Restaurant Association.
For more on where operators will be able to apply for Restaurant Revitalization Fund grants, see Here’s where operators will be able to apply for Restaurant Revitalization Fund grants.
Contact Joanna at [email protected]
Find her on Twitter: @JoannaFantozzi
