Rep. Mark Takano: American Rescue Plan’s Restaurant Revitalization Fund Now Accepting Applications
Takano Encourages Eligible Businesses in Riverside County to Apply on the SBA Portal
Riverside, CA – Today, Rep. Mark Takano (D-Calif.) announced that restaurants and other eligible businesses in Riverside County are now able to apply for direct relief through the Restaurant Revitalization Fund. Applicants can register on the U.S. Small Business Administration application portal.
The $28.6 billion Restaurant Revitalization Fund was created by the American Rescue Plan that Rep. Takano helped pass last month.
“Democrats fought hard to include the Restaurant Revitalization Fund in the American Rescue Plan so that restaurants could keep their doors open and their employees on payroll,” said Rep. Mark Takano. “Small businesses have been struggling with the devastating effects of the COVID-19 pandemic, but now, help is on the way. I am hopeful that this program will provide relief to restaurants in Riverside County, and I encourage all eligible businesses to apply as soon as possible before funds are exhausted.”
The Restaurant Revitalization Fund will provide restaurants and other eligible businesses with funding equal to their pandemic-related revenue loss up to $10 million per business. The relief does not have to be repaid, provided that the funds are put toward eligible uses by March 11, 2023. The online application will remain open to any eligible establishment until all funds are exhausted.
The Restaurant Revitalization Fund application portal can be accessed at https://restaurants.sba.gov/requests/borrower/login/. Applicants can either apply directly through the SBA or through SBA-recognized Point of Sale (POS) vendors using the portal. Participating POS providers include Square, Toast, Clover, NCR Corporation (Aloha). For entities that work with Square or Toast, you do not need to register beforehand on the portal.
Entities eligible to apply:
- 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
Please visit SBA.gov/restaurants for more information, including assistance preparing your application.
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