Restaurant Relief Application Period Opens May 3
The U.S. Small Business Administration will open applications for the Restaurant Revitalization Fund on Monday, May 3.
The federal grant program will provide $28.6 billion to restaurants and other food and drink establishments — including bakeries and food trucks — that have suffered during the pandemic.
The program will give funding that equals a business’s pandemic-related revenue loss up to $10 million per business and $5 million per physical location.
Training webinars run by SBA will be available throughout this week for businesses interested in applying.
Director for the Montana District of the SBA Brent Donnelly says the program is designed to help one of the industries hardest-hit by the pandemic.
“Some of them were closed down, had to make a lot of modifications, had limited capacities, had to take tables out or just do take out.”
For the first 21 days of the program the SBA will prioritize applications from businesses owned by women, veterans and socially and economically disadvantaged individuals. Even so, Donnelly says the application will still be open to everyone on Monday and encourages all businesses to apply as soon as possible, as it is a first-come, first-served program.
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