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SBA announces rules for $28B Restaurant Revitalization Fund

Posted at 8:20 AM, Apr 22, 2021
and last updated 2021-04-22 08:20:41-04

More help is on the way for businesses hit hard by the pandemic.

In a few weeks, the SBA will start a new relief program to help restaurants rebound called the Restaurant Revitalization Fund.

The new relief effort serves as a lifeline for several types of establishments including restaurants, bars, bakeries and food trucks.

Funds can be used to cover a variety of expenses ranging from payroll, utilities mortgage obligations and operating costs.

If approved, business owners can receive funding to recover loss revenues related to the pandemic.

Although there are still a few more weeks before the program official launches, SBA District Director Victoria Guerrero advises businesses owners to start reviewing the application process and guidelines

“Our website has a sample application form and on that form, its going to show them everything that they are going to need so take these next few weeks to prepare all of your documentation because once the portal open you'll be able to go in and apply right away,” said Guerrero.

To learn more, click here.