On May 3, the United States Small Business Administration (SBA) opened applications for the Restaurant Revitalization Fund (RRF) beginning at noon. According to their website, for the first 21 days they are prioritizing applications for small businesses “by women, veterans, or socially and economically disadvantaged individuals.”
Socially disadvantaged individuals are defined as “those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as a member of a group without regard to their individual qualities.” In the climate of anti-Asian hate, Chinese restaurants qualify in this category. This ties into economic disadvantages, which according to the SBA refers to “individuals whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities as compared to others in the same business area who are not socially disadvantaged.”
Similar to the Payment Protection Program (PPP), the funds may be used for specific expenses including: business payroll costs, payments on business mortgage obligations, business rent payments, debt service, utility, maintenance expenses, construction of outdoor seating, supplies (including protective equipment and cleaning materials), food and beverage, and operating expenses.
To understand more about the RRF and PPP in Chinese, please click here.
You can download the Application Guide in English, Chinese, or another language on their website. For more information about the RRF, please visit this link.