Restaurant Revitalization FundMay 03, 2021 07:19AM ● By Harper Klein
Registration goes LIVE at 9 am PST for the Restaurant Revitalization Fund aka the $28.6 billion in government grants covering full-year 2020 losses (up to $10 million). Beginning Monday, May 3, restaurants & bars can apply for federal grants with initial priority going to businesses owned by women, veterans, or people from economically and socially disadvantaged groups.
This first-of-its-kind relief effort comes after the Independent Restaurant Coalition’s yearlong campaign advocating for independent restaurant and bar relief beginning in April 2020 with a letter to Congress that was ultimately signed into law by President Biden in March 2021 as part of the American Rescue Plan.
Debt-free support for annual revenue losses between 2019-2020 includes expenses for:
Payroll (excluding employee compensation over $100,000/year), employee benefits, and paid sick leave
Mortgage, rent, and utilities
Outdoor seating construction
Supplies, protective equipment, and cleaning materials
Food and beverage
Principal payments for business debt
ABOUT THE IRC: The Independent Restaurant Coalition was formed by chefs and independent restaurant owners across the country who have built a grassroots movement to secure vital protections for the nation’s 500,000 independent restaurants and the more than 11 million restaurant and bar workers impacted by the coronavirus pandemic.