PHOENIX — The restaurant industry has been hit particularly hard by the COVID-19 pandemic. Numerous small eateries, bars, and diners trying to keep their doors open may find support through the newly opened Restaurant Revitalization Fund.
The fund, established by the American Rescue Plan Act and run through the U.S. Small Business Administration (SBA), opened its application process on Monday. It is geared towards helping restaurants that struggled during the pandemic.
The program will provide any eligible businesses with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location, the fund's website said.
Numerous entities can apply for the funding, including:
- Food stands, food trucks, food carts
- 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
Those interested in applying for the fund can apply through an SBA-recognized Point of Sale vendor or directly through SBA's application portal here.
A sample application also provided by SBA, to help prepare applicants, can be seen here.