Quick Facts About the Restaurant Revitalization Fund (RRF) Process

3 Min Read By Nicholas Gutzmer, CPA, CVA, MAcc

The American Rescue Plan Act, passed this spring, allocated $28.6 billion to a Restaurant Revitalization Fund (RRF) to help restaurants on the road to recovery. The Small Business Administration (SBA) has recently revealed a sample form and program guide for applicants. If you have any questions on the process, reach out to an experienced accountant to walk you through the process. 

How will the program work?The RRF will provide tax-free grants for food and beverage venues that lost revenues in 2020. 

Eligible establishments include restaurants, food trucks, bars, breweries, wineries, and bakeries. For some business types, at least 33 percent of 2019 gross receipts must have comprised on-site sales to the public. The requirements are a little different for businesses that started in 2020.

Eligible establishments have until March 11, 2023, to use the funds on qualified expenses.

Permitted uses of funds include:

Payroll costs, including health, life, disability, vision, and dental…