On May 3, the SBA is opening the first phase of the Restaurant Relief Fund, a provision of the American Rescue Plan Act. The law provides $28 billion in grants, based on lost 2020 income, to restaurants and bars; food trucks, carts and stands; caterers, brewpubs, tasting room, and similar authorized operations.
In the first 21 days, SBA will accept applications from all eligible applicants, but only process and fund priority group applications. During this period, SBA will fund applications where the applicant has self-certified that it meets the eligibility requirements for a small business owned by women, veterans, or socially and economically disadvantaged individuals.
A set-aside of $5 billion is available to smaller entities with sales under $500K. Learn the details, application procedures and requirements. — Catherine Marx, CT District Director, SBA — Julio Casiano, CT Deputy District Director, SBA