Restaurants helped make ends meet during the pandemic thanks to the U.S. Small Business Administration Restaurant Revitalization Fund. | Unsplash
Restaurants helped make ends meet during the pandemic thanks to the U.S. Small Business Administration Restaurant Revitalization Fund. | Unsplash
With the recent conclusion of the federal government's Restaurant Revitalization Fund, several restaurants in the Greenville area received grants to help them recover from the pandemic.
U.S. Small Business Administration Administrator Isabel Guzman said the fund had given out more than $28.6 billion in grants to restaurants that had suffered losses during the COVID-19 pandemic, according to a press release from the Small Business Association.
The grant program was signed into law by President Joe Biden as part of the American Rescue Plan, the release said.
The program received more than 278,000 submitted eligible applications representing over $72.2 billion in requested funds, the release said.
About 101,000 applicants have been approved, ranging from restaurants, bars and other restaurant-type businesses. Underserved populations received approximately $18 billion in grant awards, the release said.
"Restaurants are at the center of our neighborhoods and propel economic activity on Main Streets," Guzman said in the release. "As among the first to close in this pandemic and likely the last to reopen, many are still struggling to survive. The SBA will continue to work hard to ensure they get the resources they need to recover, rebuild and be resilient."
Restaurants and bars were eligible for funds equal to their pandemic-related revenue loss, with a cap of $10 million per business and $5 million per location, the release said.
The list of restaurants that received funds can be found here: website.
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