American Rescue Plan authorized $28.6 billion for restaurant relief in addition to Shuttered Venue grants, additional PPP loans
WALTHAM, MA – Yesterday, on May 6, 2021, Assistant Speaker Katherine Clark (MA-5) met with restaurant owners and brewers at Mighty Squirrel Brewing Co. in recognition of Small Business Week and to promote the Small Business Administration’s (SBA) $28.6 billion Restaurant Revitalization Fund that launched this week. Signed into law as part of President Joe Biden’s American Rescue Plan, this program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19. Detailed guidance for those seeking relief money through the restaurant revitalization fund can be found HERE.

“Local restaurants feed our families, bring our communities together, and are home to our favorite foods and memories – they’ve also been hit incredibly hard by this pandemic,” said Assistant Speaker Clark. “I thank the founders of Mighty Squirrel and the other restaurant owners who joined us to talk about how the funding in the American Rescue Plan can help our restaurants and small businesses not only survive, but grow.” Eligible entities who have experienced pandemic-related revenue loss include and are eligible to apply for funding are:
  • Restaurants and bakeries
  • Food stands, food trucks, food carts
  • Caterers
  • Bars, saloons, lounges, taverns
  • Snack and nonalcoholic beverage bars
  • Pubs, tasting rooms, taprooms 
  • Breweries and/or microbreweries 
  • Wineries and distilleries 
  • Inns 
  • Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
 The Restaurant Revitalization Fund is one of three SBA programs made available to small businesses during the pandemic. In addition to the restaurant funding, the American Rescue Plan included:
  • Additional $7.5 billion for Paycheck Protection Program (PPP) loans
  • $15B for the Targeted Economic Injury Disaster Loans (EIDL) Advance program 
  • Expansion of PPP eligibility to larger non-profits
  • $1.25B to the Shuttered Venue Grant Program
 Since the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the SBA has approved 4.2 million PPP loans worth $229 billion, 3.77 Economic Injury Disaster Loans (EIDL) for $195 billion, and disbursed 5.8 million EIDL advances amounting to $20 billion.   Find a funding guide for the Restaurant Revitalization Fund, click HERE. For a sample application, click HERE. Visit SBA.gov/restaurants for more information. 

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