May 5, 2021

Restaurant Revitalization Fund Grant Program is Open

By Diane Giordano, Partner, Tax & Business Services, Patrick O’Reilly, Principal, New England Food & Beverage Services Leader & Jacquelyn Rysz, Tax Manager, Food & Beverage Services

Restaurant Revitalization Fund Grant Program is Open Food & Beverage

The U.S. Small Business Administration (SBA) began accepting applications on May 3 for the Restaurant Revitalization Fund, or RRF, through its website.

An overview of the RRF program, which provides nearly $29 billion in grants through the SBA to eligible restaurants and food and drink service establishments, can be viewed through its website.

Additional Marcum Resources

New Restaurant Revitalization Program Application Process
Restaurant Revitalization Program

This is a reminder that businesses should not wait to apply, as applications will be processed on a first-come first-served basis.

Other Programs Available

In addition, state and local governments at all levels are offering grants and tax credits to help restaurants and bars. Some programs available in specific U.S. locations include the following:

California

Statewide:

San Francisco:

  • City is waiving licensing and registration fees for restaurants.
    • Waiver of 2020-2021 business registration fees and regulatory license fees.
    • Qualifications: 2019 gross receipts of less than $25 million. Must be a qualified entertainment or restaurant business.
    • More information
  • SF Community Anchors Grant – Not specifically geared to restaurants.
    • $25,000 grants for well-established businesses with a storefront (“brick and mortar”).
    • Qualifications: Have a storefront open to the public. Less than $2.5 million in gross receipts in 2020, 25% decrease in revenues in 2020 vs. 2019, 2+ employees before pandemic.
    • AND one of the following: 15 years in business, live entertainment or theater, or located in specific cultural neighborhoods of the city.
    • More information
  • SF Storefront Grant – Not specifically geared to restaurants.
    • $5000 grant for businesses with a storefront (“brick and mortar”).
    • Qualifications: Have a storefront open to the public. Less than $2.5 million in gross receipts in 2020, 25% decrease in revenues in 2020 vs. 2019, 2+ employees before the pandemic, did not receive more than $5000 of grants from other programs or more than$20,000 in loans.
    • AND one of the following: Mandated to close for 6+ months due to city health order, located in specific cultural neighborhoods of the city, or did not receive relief from other programs.
    • More information

Los Angeles County and Surrounding Areas:

New York State

Should you have any questions related to these restaurant recovery programs, reach out to your Marcum Food and Beverage tax specialist.

Related Industry

Food & Beverage