The U.S. Small Business Administration (SBA) is encouraging any food and beverage enterprise to hurry and submit their application for the Restaurant Revitalization Fund. The deadline for the application process is Monday, May 24, at 8 p.m ET. Interested businesses can visit the application portal here.
The program, part of the American Rescue Plan Act, opened on May 3 and is designed to help restaurants, food trucks caterers, bars and lounges impacted by the COVID-19 pandemic maintain or resume operations. While up to $28.6 billion in funds was set aside, according to the SBA, the program has received more than 303,000 applications representing over $69 billion in requested funds. Because the SBA is still able to set-aside funding for eligible enterprises with 2019 annual revenue of not more than $50,000, it will keep the application portal open until the Monday, May 24 deadline.
You may read the SBA’s entire announcement here.
How DHG Can Help
If you are able to secure support from the Restaurant Revitalization Fund, look to DHG to help navigate your reporting or conduct a study for how best to apply funding to help your business thrive. If you are not able to secure funding, our professionals can offer alternative strategies for helping your business return to the marketplace. For more information, reach out to us at email@example.com.