“Today’s launch of the Restaurant Revitalization Fund provides long-awaited hope for tens of thousands of restaurants who are on a long path to recovery. The U.S. Small Business Administration (SBA) has done admirable work in creating a totally new relief program in just two months, and we appreciate our strong partnership with them.
“The question on the minds of many is what happens when applications outpace the available funds. Restaurants are operating in an uncertain environment, with continued needs to restore customer confidence in their safety and to bring workers back into the economy. We will continue to work with policymakers to secure a comprehensive set of solutions, including additional funding for the RRF.”
The restaurant industry has been the hardest hit during the pandemic. Between March 2020 and April 2021, restaurant and foodservice sales were down $280 billion from expected levels and 110,000 restaurants have closed permanently or long-term. For nearly 15 months, securing industry-specific recovery grants has been the primary goal of the National Restaurant Association.
Because funds are limited, the Association encourages all eligible applicants to apply as soon as possible. While priority groups will have 21 days of priority access, applications from all eligible applicants will not be ruled ineligible if they apply during the prioritization period. The SBA will coordinate the time of submission to determine the order of grant distribution.
An archive of past webinars with our state partners and SBA. Yesterday, our partners at the Multicultural Foodservice and Hospitality Alliance and the SBA Administrator hosted a discussion on how the 21-day priority period works for restaurant owners from
About the National Restaurant Association
Founded in 1919, the National Restaurant Association is the leading business association for the restaurant industry, which comprises 1 million restaurant and foodservice outlets and a workforce of 15.6 million employees. We represent the industry in Washington, D.C., and advocate on its behalf. We sponsor the industry’s largest trade show (National Restaurant Association Show); leading food safety training and certification program (ServSafe); unique career-building high school program (the NRAEF’s ProStart). For more information, visit Restaurant.org and find us on Twitter @WeRRestaurants, Facebook and YouTube.