While we anxiously await more guidance and information on the Restaurant Revitalization Fund (RRF) from the Treasury and the SBA, the National Restaurant Association has been able to get some inside scoop from the SBA. A FAQ document and draft application provide a small bit of insight into how this grant program may work. While there are some similarities to the Shuttered Venue Operators Grant (SVOG), a major difference includes the lack of requirement to obtain a DUNS number and register with SAM.gov.
The FAQ document outlines a list of eligible entities and what may disqualify an entity from being eligible. Factors that may disqualify an entity from eligibility include:
- Owning or operating (together with affiliates) more than 20 locations,
- Receipt of or having a pending application for SVOG,
- Being publicly traded,
- Operations outside of the U.S.,
- If the entity is a state or local government owned business,
- The entity is permanently closed,
- The entity has filed for bankruptcy.
The draft application also provides a potential look at information that will be requested for businesses that hope to apply.
Keep an eye on our COVID-19 Resource Center for the most up to date information on the RRF as it becomes available.
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