CBS19, KATHRYN YOUNG
The American Rescue Plan Act established the Restaurant Revitalization Fund to provide grant funding to help restaurants, food trucks, bars, breweries, wineries, and other food establishments affected by the COVID-19 pandemic.
Applications for the Restaurant Revitalization Fund opened Monday at 12 p.m. through the U.S. Small Business Administration.
The $28.6 billion fund provides restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location.
“This is meant to be a bridge as we continue to see significant economic recovery as we continue to see significant impact and progress of vaccination rates, this is meant to be a bridge to ensure those small businesses, those restaurants, those bars, those food trucks, and those breweries can stay afloat during this time,” said Representative Abigail Spanberger (D-VA-7th).
Grants can be used for costs like rent, utility payments, cleaning supplies, and other expenses restaurants incur.
Funds must be used by March 2023.
For more information about the Restaurant Revitalization Fund and to apply, click here.