Registration is immediately available, SBA administrator says.
The Small Business Administration is offering $28.6 billion as revitalization funds specifically for restaurants. The registration window for receiving the assistance opened Friday, and applications will be available Monday at noon, Isabella Guzman, the Administrator of the SBA said. Applications will remain open until all of the funds have been exhausted.
“Restaurants are the core of our neighborhoods and propel economic activity on main streets across the nation,” Administrator Guzman said. “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.”
“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,” she continued. “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.”
Funding was provided in the American Rescue Plan which was signed into law March 11.
As the Lord Leads, Pray with Us…
- For the administrator of Small Business Administration as funding is offered to restaurants as the pandemic eases.
- For restaurant owners to avail themselves of the assistant as needed to recover from the economic impact of COVID-19.
- For restaurant managers who are struggling to hire staff due to the unemployment benefits people are receiving.
Sources: Washington Examiner, SBA.gov
