The Restaurant Revitalization grants program will start to accept application at the end of April
Restaurant Revitalization Grants Program
On March 11, the American Rescue Plan Act of 2021 created the $28.6 billion Restaurant Revitalization Fund to provide grants for restaurants sustaining financial losses due to the COVID-19 pandemic. The U.S. Small Business Administration (SBA) is administering the program, and will be issuing the necessary federal rules, regulations, and applications before grant funds are distributed.
Restaurant revitalization grants must be used to pay qualifying expenses during the covered period. Any grants not fully utilized in this manner must be returned to the SBA.
Specific expenses that are eligible include:
• Payroll costs
• Mortgage principal & interest payments
• Rent payments (except for prepayments)
• Maintenance costs
• Supplies (including personal protective equipment & cleaning supplies)
• Food & beverage costs
• Covered supplier costs (utilizing the PPP definition)
• Operational expenses
• Paid sick leave