Rep. Newman: American Rescue Plan Relief for Restaurants Available Beginning Monday
Newman Encourages Restaurants to Pre-Register through SBA Portal Today
CHICAGO, IL – Today, U.S. Representative Marie Newman (IL-03) announced that restaurants in the Chicagoland area will be able to apply for direct relief through the Restaurant Revitalization Fund beginning Monday, May 3, at 12:00 p.m. ET. Applicants can register on the U.S. Small Business Administration application portal beginning Friday, April 30 at 9:00 a.m. ET.
The $28.6 billion Restaurant Revitalization Fund was created by the American Rescue Plan that Rep. Newman helped pass last month.
“The independent restaurants that make up the Chicagoland area are cornerstones of our IL-03 community, where we gather with friends and family and mark special occasions in our lives,” said Congresswoman Newman. “I’m proud that we passed direct relief for them and the residents they employ as part of the American Rescue Plan. The comeback of our restaurant and hospitality businesses is an important key to a full recovery.”
The Restaurant Revitalization Fund will provide restaurants and other eligible businesses with funding equal to their pandemic-related revenue loss up to $10 million per business. The relief does not have to be repaid, provided that the funds are put toward eligible uses by March 11, 2023.
- Find a funding guide HERE and a sample application HERE.
- Visit SBA.gov/restaurants for more information.
The Restaurant Revitalization Fund application portal can be accessed at https://restaurants.sba.gov/requests/borrower/login/. Participating POS providers include Square, Toast, Clover, NCR Corporation (Aloha). Entities that work with Square or Toast, you do not need to register beforehand on the portal.
Entities eligible to apply:
- Food stands, food trucks, food carts
- Bars, saloons, lounges, taverns
- Snack and nonalcoholic beverage bars
- Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
- Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
- Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
- Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
- Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
- Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products