How Restaurants Can Get Grant Money
Some good news for restaurants in Louisiana today. The Small Business Administration is making some grant money available to help restaurants recover from a tough year. The restaurants will be able to use the money for employee salaries, utility costs, and to pay for food and beverage products.
The Louisiana Restaurant Association says these type of grants are needed in order to keep more of our restaurants from closing. Stan Harris previously told KEEL News thousands of jobs have been lost in the industry and nearly 25% of restaurants in our state have closed for good.
The SBA is working to get the application process live by the end of April.
The restaurant revitalization fund is part of President Biden's American Rescue Plan Act of 2021. SBA Senior Advisor Michael Roth says:
The American Rescue Plan Act enables the SBA to continue to lift up the cornerstones of our communities; the mom-and-pop businesses and nonprofits that provide essential services for our everyday lives, hire from within neighborhoods, and more. Our nation’s more than 30 million small businesses are the economic engine of this country and, in alignment with the Biden-Harris Administration’s focus on equitable treatment, the SBA will work tirelessly to ensure eligible borrowers will get access to this critical economic relief.
There will be $28.6 billion for the Restaurant Revitalization Fund for industry-focused grants. The SBA application process will be launched online in the next 2 weeks. Click here to get more details.