Webinar to Explain Restaurant Revitalization Fund Established Under the American Rescue Plan
April 30, 2021 –
The U.S. Small Business Administration (SBA) and the National Congress of American Indians (NCAI) will host a joint webinar for tribal leaders and tribal economic enterprises on the Restaurant Revitalization Fund (RRF). SBA will cover program details, including how to apply for funding, and will answer questions during the webinar.
The Restaurant Revitalization Fund includes $28.6 billion in available funding, including a $5 billion set-aside for businesses with revenue of no more than $500,000 in 2019. This program provides restaurants with funding equal to the restaurant’s pandemic-related revenue loss. The funding is available up to $10 million per business and no more than $5 million per physical location. Authorized uses include payroll, mortgage, rent, utilities, supplies, paid leave, and operational expenses. Socially and economically disadvantaged business concerns, including tribal business concerns, will be prioritized for funding during the first 21 days that the application portal is open. After 21 days, SBA will accept and process applications from all eligible applicants until funds are exhausted.
To learn more about the RRF program and application, please click here.
NCAI Contact: Julia Wakeford, Policy Analyst, email@example.com