Registration opened Friday morning for restaurants, bars and other food and drink establishments across Michigan hard hit by COVID-19, to apply for federal help. The $28.6 billion Restaurant Revitalization Fund is available through the U.S. Small Business Administration under the American Rescue Plan.
The fund prioritizes direct relief to women, veterans, and socially and economically disadvantaged individuals for first the 21 days, then it’s first-come, first-served for all eligible applicants. Eligible businesses include restaurants; food stands, food trucks, food carts; caterers; bars, saloons, lounges, taverns; brewpubs, tasting rooms, taprooms; breweries, wineries and distilleries; and bakeries.
“Restaurant owners and other food establishments have made incredible sacrifices over the past year to keep their communities safe and slow the spread of COVID-19,” said Governor Gretchen Whitmer. “This vital relief will help ensure they can keep their doors open and continue to serve their communities while also ensuring their workers can stay employed entering the critical summer season.”
The minimum amount awarded will be a $1,000, with businesses that remain open eligible to receive funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location.
“This is critical relief to some of our hardest hit small businesses. Funds are limited, so I encourage eligible businesses apply as soon as the application window opens to ensure they get the support they need,” said Brian Calley, President of the Small Business Association of Michigan.
For more information on the Restaurant Revitalization Fund, visit : https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund