Restaurant Revitalization Grant

Starting today, May 3rd, 2021 at 12:00 p.m. the SBA will begin accepting applications for the Restaurant Revitalization Grant. The website to apply is restaurants.sba.gov.As a reminder:

This grant applies to all restaurants and is based on your loss due to the pandemic. In short, the amount you are eligible for is the following calculation. Gross receipts from 2019 less gross receipts for 2020 less PPP loans received. The grant is capped at $10,000,000 per entity and is tax free. The following is the definition of a restaurant from the act:

(4) ELIGIBLE ENTITY.—The term “eligible entity”—

(A) means a restaurant, food stand, food truck, food cart, caterer, saloon, inn, tavern, bar, lounge, brewpub, tasting room, taproom, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products, or other similar place of business in which the public or patrons assemble for the primary purpose of being served food or drink;