Restaurant Revitalization Fund Update: Preparing for the Grant Application
There were concerns among the industry that applying for a grant would require registration in SAM.gov, which is a very time consuming process.
On March 30, 2021, the SBA tweeted it would be waiving that normal process. This is great news, as it will save hours of time for eligible businesses.
Prior to the application being launched by the SBA, you should start gathering the documents necessary to prove your revenue decline (i.e., tax returns, financial statements, etc.), as well as any loan documentation on PPP loans you have received. Additionally, you will likely need corporate organizational documents (articles of organization/incorporation, operating agreements, etc.) to prove when you began business. Please have all the necessary documents available to facilitate your application.