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Restaurants can start applying for as much as $5 million in federal funding beginning today

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Posted at 6:42 AM, May 03, 2021
and last updated 2021-05-03 09:42:24-04

The pandemic ravaged businesses across the country over the last year.

Probably no industry was hit harder than restaurants.

Beginning Monday, restaurants can try to recuperate some of the lost money by applying for Restaurant Revitalization Funds.

The fund was created through the American Rescue Plan Act, "to provide funding to help restaurants and other eligible businesses keep their doors open."

According to the U.S. Small Business Administration, the program, "will provide 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. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023."

The SBA lists the following as eligible to apply for the funding:

  • 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

Anyone interested in applying can visit the SBA's website.