Restaurant owners can register for Restaurant Revitalization Fund beginning Monday

National

(FOX 46 CHARLOTTE) – Restaurant owners struggling through the COVID-19 pandemic can begin applying for the Restaurant Revitalization Fund Monday, according to the U.S. Small Business Administration.

President Biden’s ‘American Rescue Plan Act’, established the fund to provide financial aid to restaurants and other businesses to keep their doors open.

The SBA said the program will give restaurants funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per business location.

Restaurant owners will not have to repay the funding as long as it is used for eligible uses by March 11, 2023.

The Small Business Administration said the following businesses are eligible to apply:

  • Restaurants
  • Food stands, food trucks, food carts
  • Caterers
  • Bars, saloons, lounges, taverns
  • Snack and nonalcoholic beverage bars
  • Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
  • Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
  • Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
  • Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
  • Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
  • Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products

Click here for information or to learn how to apply.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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