RALEIGH, N.C. (WNCN) – Beginning today the U.S Small Business Administration will open the Restaurant Revitalization Fund to help businesses in need.
The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open.
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.
Registration for the SBA application portal is now open. Applications open Monday at noon.
For more information about how to apply and what businesses are eligible, click here.