On Saturday, April 17, the Small Business Administration
(SBA) activated a new website and released a sample application form for
the Restaurant Revitalization Act grant program established under
the American Rescue Plan Act of 2021 (for more
on this program, see our alert from April 12). Although
applications are not yet being accepted, the limited funding
available for this tax-free grant program and its
first-come-first-served approach mean that applicants should lose
no time in completing the new form so they can submit it at the
earliest possible opportunity.
For the first 21 days, only applications from priority groups
will be processed, but after that, forms from all others will be
considered in the order in which they were received. Priority
groups include restaurants, bars, and other food-serving
establishments that are owned 51% or more by women, veterans, or
socially and economically disadvantaged individuals.
