Starting Monday, May 3, 2021, the U.S. Small Business Administration’s Economic Aid will open its Restaurant Revitalization Fund to businesses in need of help.
As part of American Rescue Plan, this plan will provide $28.6 billion in direct relief funds to restaurants and other hard-hit food establishments that have experienced economic hardship due to the COVID-19 pandemic.
The SBA will prioritize funding applications from businesses owned and controlled by women, veterans, and socially and underprivileged individuals for the first 21 days that the program is open. All eligible applications will be funded on a first-come, first-served basis.
Funds must be used for allowable expenses by March 11, 2023.
Registration can be done online at restaurants.sba.gov