RESTAURANT REVITALIZATION FUND (RRF)
The Restaurant Revitalization Fund (RRF) is a federal grant to help restaurants and other food businesses keep their doors open. The minimum award for applying is $1,000, but funding can be up to $5 million per location, with a limit of $10 million per applicant. It’s not required to repay the funding as long as it’s used by March 11, 2023.
It’s urgent tHat Detroit businesses apply before Monday 5/24. During this time range, the Small Business Administration (SBA) will focus funding of Black-, POC-, women-, and veteran-owned businesses, also known as “socially and economically disadvantaged”. Once this time range is over, the SBA will accept applications from everyone whose business is eligible.
THE SMALL BUSINESS ADMINISTRATION (SBA). THIS IS FEDERAL MONEY.
- You’ll need to get documentation proving that you had a loss of revenue due to the pandemic (ex. business tax returns, Schedule C, Schedule F) and that 33% of your sales are from food.
- Apply online through the SBA application portal. (Note: If you need a bit of practice before applying online, use this sample application).
Business payroll costs (including sick leave), mortgages, rent (prepayments don’t apply), utilities, debt, construction of outdoor seating, business supplies, food and beverage expenses, and other operating expenses.
AFTER SUBMITTING YOUR APPLICATION, IT WILL ENTER “IRS VERIFICATION” STATUS. THIS PROCESS MAY TAKE UP TO SEVEN DAYS WHILE BEING REVIEWED. AFTER THE 21 DAY PRIORITY PERIOD, THE SBA WILL ACCEPT APPLICATIONS FROM ALL ELIGIBLE APPLICANTS AND PROCESS APPLICATIONS IN THE ORDER IN WHICH THEY ARE APPROVED BY SBA, BUT APPLICATIONS CAN BE FILLED OUT NOW.
- Detroit Means Business (DMB) has a list of organizations that can support you, along with more information.
- The District Business Liaisons are also available, view them here. If you’re unsure what district you are located in, look at this interactive map of the 7 districts in the city of Detroit.
- To contact the SBA directly, call: 1-844-279-8898. Help is available in multiple languages.