Financial support available for restaurants and bars
May 6, 2021
The U.S. Small Business Administration (SBA) has launched a program to support restaurants and bars that have been impacted by the COVID-19 pandemic and its associated restrictions. Applications opened on Monday for the program, which makes use of funding from the American Rescue Plan Act.
The Restaurant Revitalization Fund (RRF) aims to restore the revenue an eatery lost during the pandemic, up to $10 million per business or $5 million per physical location. As long as the funding is used by March 11, 2023, it does not need to be repaid.
The program is open to restaurants, food stands and...