$28.6 billion Restaurant Revitalization Fund Opens Monday
The restaurant industry has been uniquely devastated by the COVID-19 pandemic. More than one in six restaurants have permanently closed and millions are out of work, but help is here.
The American Rescue Plan Act provided a lifeline to local restaurants through the $28.6 billion Restaurant Revitalization Fund that was based on my RESTAURANTS Act. This funding will become available in a matter of days and I encourage you to utilize this opportunity for federal funding.
Restaurants should visit SBA.gov/restaurants today to register for the SBA application portal, review program guidance, collect proper documentation, and view a sample application.
On Monday, May 3 at 12:00 p.m. ET, the Small Business Administration will begin accepting applications from restaurants to access the Restaurant Revitalization Fund.
Priority in the first 21 days will be given to restaurants owned by women, veterans, and socially or economically disadvantaged groups.
The Restaurant Revitalization Fund is expected to be a heavily oversubscribed program, so it is imperative restaurants owners are aware and prepared to access funding by visiting SBA.gov/restaurants.