Upcoming SBA Restaurant Grant:
One of the features of the American Rescue Plan, which was signed by President Biden Last Week is the allocation of $28.6 billion in grants for restaurants who had a revenue loss in 2020 as a result of the pandemic.
While the full details are of the grant are not yet available, we encourage restaurants who may be interested in receiving this grant to begin preparing their 2019 and 2020 paperwork.
The amount of the grant is expected to be equal to the business’s pandemic-related revenue loss, calculated by 2019 gross receipts minus 2020 gross receipts and minus any previous assistance through the Paycheck Protection Program forgivable loans.
Eligible Grant Recipients include:
- Food stands, trucks, or carts;
- Bars or lounges;
- Saloons, inns, or taverns;
- Brewpubs, tasting rooms, taprooms
Senator Brian Schatz shared more information about this upcoming grant on his website: U.S. Senator Brian Schatz of Hawaii (senate.gov)
We will update this page with additional information when it is available, including links to informational webinars to help eligible businesses prepare to apply for the grant.
Last modified: March 17, 2021