Fund prioritizes direct relief to women, veterans, and socially and economically disadvantaged individuals, and includes $9.5 billion in set-asides for smaller businesses
Guam bars and restaurants may start to register for the U.S. Small Business Administration's Restaurant Revitalization Fund on April 30 at 9 a.m. EDT and open applications at noon on May 3, SBA Administrator Isabella Casisllas Guzman announced today.
SBA said the online application will remain open to any eligible establishment until all funds are exhausted.
“Restaurants are the core of our neighborhoods and propel economic activity on main streets across the nation. They are among the businesses that have been hardest hit and need support to survive this pandemic. We want restaurants to know that help is here,” Guzman said.
“The SBA has focused on the marketplace realities of our food and beverage businesses in designing the Restaurant Revitalization Fund to meet businesses where they are. And we are committed to equity to ensure our smaller and underserved businesses, which have suffered the most, can access this critical relief, recover, and grow more resilient.”
Established under the American Rescue Plan, and signed into law by President Joe Biden on March 11, the Restaurant Revitalization Fund provides a total of $28.6 billion in direct relief funds to restaurants and other hard-hit food establishments that have experie