The Small Business Administration (SBA) recently announced that it will begin accepting applications for grant funding from restaurants and related businesses that have been financially impacted by the COVID-19 pandemic.
The $28.6 billion Restaurant Revitalization Fund was established by the American Rescue Plan Act signed into law last March, according to KITV 4 News. Hawaii State Sen. Brian Schatz took to Facebook to voice his support for the program.
"For restaurants and bars in Hawai'i, help is here," Hawaii State Sen. Brian Schatz wrote in an April 28 Facebook post. "The new $28.6 billion federal program aimed at helping restaurants impacted by the pandemic will begin accepting applications for grant funding beginning on Monday, May 3 at 6 a.m. HT."
Eligible businesses include restaurants and similar businesses where the primary purpose is serving food or drinks such as food stands or trucks, bars or lounges, caterers and other businesses. Priority will be given to women-, veteran-, and disadvantaged/minority-owned businesses.
Grant awards will be equal to the business’s pandemic-related revenue loss and limited to $5 million per physical location and $10 million total for the applying business entity.
Applicants can find more information and the application at the Restaurant Revitalization Fund's website.