We previously reported that President Biden signed the massive COVID-19 relief and stimulus bill, containing a package of $28.6 billion in grant relief targeted for the country’s small / independent restaurants, known as the Restaurant Revitalization Fund. So what’s going on with the grant application process? Well the Small Business Administration (SBA) is still setting up the program and hasn’t yet published any guidance or posted an application on its website. However, in a Senate hearing last week, an SBA representative states that the SBA expected to start posting guidance on its website, and start taking applications, very soon — possibly this week or next. In the meantime, some advance information about the program is available here.
Remember: already having a PPP loan does NOT disqualify you from obtaining a Restaurant Revitalization Fund grant, so check with your accountant about applying!
While we don’t know the exact timing of when the SBA will start accepting applications, we are told that applications will be processed through the U.S. SAM (System for Award Management) portal: System for Award Management (sam.gov). To speed up processing of an application under the Restaurant Revitalization Fund, you are encouraged to set up an account on SAM now if you do not already have one.
Here are some steps:
- Create a login.gov user account. This login account can help you interact with the SBA and other federal agencies.
- Sign up to receive a DUNS number. The DUNS number assignment is free, but it is required for all businesses who want federal contracts or grants. This typically takes 1-2 days to process.
- Using a login.gov email, DUNS number, and standard business info such as your Taxpayer Identification Number (TIN) and Taxpayer Name, register with SAM. It can take up to 2 weeks to be fully set up on SAM.
We will keep you posted with up-to-the-minute information!