San Juan County restaurants and food trucks can expect significant support through the new Restaurant Revitalization Fund (RRF). Administered by the Small Business Administration, this program provides access to a $500 million grant fund designed to assist food servers, food trucks, and food carts within the county.
The application process includes a priority period for businesses with a majority ownership stake of 51% or more held by women, veterans, and socially or economically disadvantaged individuals. Socially disadvantaged individuals are defined as those subjected to racial or ethnic prejudice or cultural bias due to their group identity, while economically disadvantaged individuals are those whose ability to compete has been impaired by diminished capital and credit opportunities.
Eligible applicants include restaurants, food stands, food trucks, caterers, bars, saloons, lounges, and taverns. The fund also covers snack and nonalcoholic beverage bars, bakeries, brewpubs, tasting rooms, taprooms, wineries, distilleries, and inns, provided that onsite sales to the public comprise at least 33% of gross receipts.
While a release date has not been announced, the SBA will process priority group applications for the first 21 days. After this period, all eligible applicants may apply until funds are exhausted. On day 22, applications will be processed in the order they are approved.
To complete the online application, businesses must prepare several documents, including SBA Form 3172 and IRS Form 4506-T for tax verification. Documentation of gross receipts for 2019 and 2020 is required, which can include business tax returns, bank statements, financial statements, or point of sale reports.
Grant funds may be used for a variety of expenses, such as business payroll costs including sick leave, mortgage obligations, rent payments, debt service, utility payments, maintenance, and the construction of outdoor seating. Additionally, funds can cover business supplies, cleaning materials, food and beverage expenses, and covered supplier costs.
Meghan McFall at the USU Small Business Development Center in Blanding is planning a webinar next week to address questions regarding the application process for San Juan County businesses. Information regarding the webinar and a downloadable PDF of the application form will be provided as it becomes available.
