Representative Malinowski Announces Application Opening on Monday for $28.6 Billion Restaurant Revitalization Fund
Press Release
Today, Representative Malinowski announced that the U.S. Small Business Administration (SBA) will open applications for the Restaurant Revitalization Fund (RRF) at noon EDT, Monday, May 3rd. Restaurant owners in New Jersey's 7th Congressional District can visit SBA.gov/restaurants today to register for the SBA application portal, review program guidance, collect proper documentation, and view a sample application.
The American Rescue Plan Act established the $28.6 billion RRF to provide funding to help restaurants and other eligible businesses keep their doors open. The RRF is based on the RESTAURANTS Act, which was cosponsored and championed by Rep. Malinowski. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. Eligible entities who have experienced pandemic-related revenue loss include:
Restaurants
Food stands, food trucks, food carts
Caterers
Bars, saloons, lounges, taverns
Snack and nonalcoholic beverage bars
Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
"Restaurant owners within our community have had to make extraordinary sacrifices within the past year," said Representative Malinowski. "This fund provided by the American Rescue Plan is essential for keeping the doors open at our favorite local restaurants, and for rebuilding the New Jersey economy. I encourage restaurants in our district to take advantage of this federal program opening on Monday."
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