More than $28 Billion Set Aside for the Restaurant Industry

The $1.9T American Rescue Plan Act signed into law earlier this month includes $28.6B for the restaurant industry.

According to the National Restaurant Association, under the Restaurant Revitalization Fund (RRF) the grants can be up to $5 million per restaurant or up to $10 million for multiple restaurants. This money isn’t only for brick-and-mortar eateries. The legislative text shows that this money has been set aside for, “food stand, food truck, food cart, caterer, saloon, inn, tavern, bar, lounge, brewpub, tasting room, taproom, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products, or other similar place of business in which the public or patrons assemble for the primary purpose of being served food or drink.”

The U. S. Small Business Association says it’s working on implementing this support program. The SBA will prioritize certain groups during the initial offering. Those groups in women, veterans or socially and economically disadvantaged small businesses.

Here’s a link to help you understand more about RRF. Click the link to download the most up-to-date copy of the RRF Fact Sheet.

Cox Media Group