Is the Restaurant Revitalization Fund Program Right for You?
It’s often said that food is the centerpiece of life. And since small businesses are the heart and soul of America, it goes without saying that restaurants are a critical part no only of our country’s economy, but of our lives.
The restaurant industry is among the hardest hit by the COVID-19 pandemic. Thankfully, the SBA recently introduced a glimmer of hope – the Restaurant Revitalization Fund. This program, established by the American Rescue Plan Act, will fund qualifying restaurants and other similar businesses to help them overcome these challenging times.
The program is designed to provide restaurants with financial support matching the amount of revenue lost due to the pandemic. The funding may equal up to $10 million per business and no more than $5 million per business location.
Businesses are not responsible for paying the funds back as long as they are used for reasons recognized and accepted by the program, by March 11, 2023.
Who Can Apply
If your business is one of the following: restaurant, food stand, food truck, food cart, caterer, bar, saloon, lounge, tavern, snack bar, bakery, brewpub, tasting room, taproom, brewery, microbrewery, winery, distillery, or inn: you should consider application.
Let Us Help You Apply
At Anchor Business Brokers, we are here to advise you – through the good and the hard. Let us help you through the application process. Contact us today.