FREQUENTLY ASKED QUESTIONS AND UPDATES
- FAQ on the Restaurant Revitalization Fund (National Restaurant Association – PDF Updated April 9)
- FAQ on the Restaurant Revitalization Fund (National Restaurant Association -Online)
- Restaurant Revitalization Fund: What you need to know (Washington Hospitality Association)
The recently passed American Rescue Plan Act of 2021 established the $28.6 billion Restaurant Revitalization Fund (RRF) to provide grants for restaurants that sustained financial losses due to the coronavirus pandemic. This funding will not require repayment and may be used to pay for a wide range of eligible expenses. All eligible entities should apply for this emergency funding.
The U.S. Small Business Administration (SBA) is administering the funds and when you apply matters. Please start educating yourself on requirements and gathering the information you’ll need to apply.
Important things to note at this time about the Restaurant Revitalization Fund:
- The RRF is emergency funding that all eligible entities should seek to cover their pandemic-related losses.
- The SBA program guide, application and other resources are now available at sba.gov/restaurantsand www.sba.gov/restaurantes. The SBA is expected to announce the launch date of the application portal soon.
- Be ready to show gross receipts for 2020 even if you have not filed 2020 taxes. Bank statements and P&L forms will work.
- Applicants to the Shuttered Venue Operator Grant are ineligible for an RRF grant.
- Businesses are not excluded if they began operations part-way through 2019 or later.
- These funds may be used for a very wide range of eligible expenses incurred between Feb. 15, 2020 and Dec. 31, 2021. (The SBA has the authority to extend the end date to Mar. 11, 2023.)
- Be ready for transparency as grants are subject to audit. How your business uses the funds may also be published.
- Funds cannot be used to pay for expenses already covered by PPP.
- The grant will not be taxed as federal gross income and will not impact federal deductions. We do not yet know how Washington state will treat the grants with regard to B&O taxes.
- Unused funds will need to be returned at the end of the coverage period.
NOTE: Our association resources are the best available for understanding and preparing to apply for a Restaurant Revitalization grant. We will be ready, along with other organizations in Washington and nationally, to help you apply. The application will not be complicated and with all of the free resources that will be available, you do not need to hire grant writers or companies to help you apply.
- Restaurant Revitalization Fund Toolkit
- Washington Hospitality Association’s Coronavirus Resources for Restaurants
- Washington Hospitality Association’s Coronavirus Resources for Hotels
- Washington Hospitality Association’s Coronavirus Resources for Entertainment