“The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.”
For more information on the Restaurant Revitalization Fund (RRF) please visit https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund.
“The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.
Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.“
For more information on the Shuttered Venue Operators Grant (SVOG) please visit https://www.sba.gov/funding-programs/loans/covid-19-relief-options/shuttered-venue-operators-grant.
If you have questions about the aide available for your small business please contact us at (570) 282-1255. We are partnered with a variety of different local organizations that can help to answer all of your questions.