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Restaurants may begin submitting applications May 3, 2021, to the Small Business Association (SBA) for a grant program geared toward combating the economic impact of COVID-19 on the restaurant industry.
The grant program, the Restaurant Revitalization Fund, was allocated $29 billion from the $1.9 trillion economic relief bill passed earlier this year.
Through the fund, eligible restaurants can receive up to $10 million per business or up to $5 million for a single physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.