Strategic Insights: Restaurant Revitalization Grant Funds

Description

The restaurant industry lost more than $250 billion dollars in 2020, causing 100k restaurants to close their doors forever.

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.
 
Monty Henderson and Patrick Moeller from the Indiana Small Business Development Center will be discussing this program and how to qualify for grant funds on a webinar by Greater Lafayette Commerce.