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Very Low Credit Scores OK
3 - 6 Months of Bank Statements
No Collateral, Little Paperwork
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Easy online application.
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Once approved, get funds in as little as 24 hours.
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What type of businesses are eligible to apply?Business that own a place of business where the public or patrons assemble for the primary purpose of being served food or drink. This includes restaurants, bars, food trucks, breweries, wineries, caterers and inns. For some types of businesses, the SBA requires proof of onsite sales to the public of at least 33% of gross receipts.
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When do I have to have started my business to receive a grant?A business must have been established legally by March 11, 2021, but even if it was not open in 2019 or 2020, it might still be eligible. Even if a business is not open at the time of application, it can apply based on eligible expenses incurred in preparing to open.
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Are non-profits eligible to apply for a grant?No, non-profits are not eligible to apply for these grants.
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Can I have received PPP loans? Or applied for a SVOG grant?A business can be the recipient of 1 or 2 PPP loans and still qualify. (The amount of the PPP loans is deducted during grant amount calculation.) However, if the business obtained a SVOG grant, or has an application in process, they are then not eligible to apply for a restaurant grant.
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What are the sizes of the Restaurant Revitalization Fund grants?The SBA has a minimum grant amount of $1,000 per eligible entity. The maximum grant amount per location is $5 million, with a combined limit of $10 million total for the eligible entity.
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If I have multiple locations under one EIN, can I apply for multiple loans?"A restaurant or other eligible business with multiple locations under the same EIN “must apply for all locations in one single application”, per the SBA.
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When calculating the grant amount, what does 'in operation' refer to?"For purposes of calculating funding amount, the date a business was first ‘in operation’ means the day the entity started making sales. This does not mean the day the business registered with the Secretary of State to establish the legal entity.
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Do I apply through lenders, like the PPP program?"No. RRF grant applications are made directly with the SBA, either through their portal, by phone, or through one of their POS partners (currently only Toast or Square).
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Do I need a DUNS # or to register with SAM.gov (like SVOG grant applicants)?No. The SBA does not require a business to have a DUNS # nor to register with the SAM.gov portal.
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Do I have to provide information for all owners?The application requires information for all owners of 20% or more of the business. If no single owner owns 20%, then you must provide owner information for multiple owners who together total at least 20% ownership of the business.
Other Financing Options
Minimum
Requirements
Credit Score 550 Minimum
6+ Months in Business
Monthly Sales of $10,000/month
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