The first wave of payments from the Restaurant Revitalization Fund (RRF) is going out to more than 16,000 restaurants and other food and beverage providers, some of whom could see relief money in their bank accounts as soon as Tuesday.
The SBA reported last week that more than 186,000 restaurants, bars, and other food and beverage businesses applied for RRF assistance during the first two days after the program’s application window opened May 3.
All eligible food and beverage providers are allowed to apply to the RRF, but for the first 21 days the SBA will prioritize reviewing applications from small businesses owned by women, veterans, and socially and economically disadvantaged individuals.
After the first 21 days, the SBA will fund all eligible applications on a first-come, first-serve basis. Approved applicants should expect an average of 14 days for processing, review, approval, and funds distribution, the SBA said.
To learn more about the program and apply visit: