Companies that received funding from the Restaurant Revitalization Fund (RRF) should have received an email from the Small Business Administration (SBA) telling them to file a post-award report by December 31, 2021 (if they haven’t already filed a report with the SBA).
All recipients are required to report through the application portal how much of their award has been used against each eligible use category by 12/31/21. All recipients that do not fully expend award funds prior to December 31, 2021, will be required to complete annual reporting submissions until they fully expend the award funding, or the period of performance expires.
RRF recipients still have until March 11, 2023, to use award funds. If the recipient fully expends their funds prior to December 31, 2021, they will be asked to certify in the application portal that proceeds have been used on eligible expenses. Any RRF funding not used by March 11, 2023, must be returned.
The SBA reserves the right to request supplemental documentation to validate the certification, but no invoices or financial statements are currently required to be uploaded with this post-award report.
Here is where companies file their post-award report.
Below is a list of qualified expenses under the RRF:
- Business payroll costs (including sick leave)
- Payments on any business mortgage obligation (both principal and interest; not including any prepayment of principal on a mortgage obligation)
- Business rent payments (not including prepayment of rent)
- Business debt service, both principal and interest (not including any prepayment of principal or interest)
- Business utility payments
- Business maintenance expenses
- Construction of outdoor seating
- Business supplies (including protective equipment and cleaning materials)
- Business food and beverage expenses (including raw materials)
- Covered supplier costs
- Business operating expenses, defined as business expenses incurred through normal business operations that are necessary and mandatory for the business (e.g., rent, equipment, supplies, inventory, accounting, training, legal, marketing, insurance, licenses, fees). Business operating expenses do not include expenses that occur outside of a company’s day-to-day activities.
Companies cannot use funds to expand their business.
The covered period begins February 15, 2020, and ends on March 11, 2023. If the business permanently closes, the covered period will end when the business permanently closes or on March 11, 2023, whichever occurs sooner.
Contact us with questions or assistance.