Ruppersberger: Maryland Restaurants Can Pre-Register for New COVID-19 Grant Program Now
(Timonium, MD) – Today, Congressman C.A. Dutch Ruppersberger announced that restaurants across Maryland who are struggling through the COVID-19 pandemic will be able to apply for federal financial assistance starting Monday at noon. Applicants can pre-register on the U.S. Small Business Administration application portal beginning today. Assistance is available through the new $28.6 billion Restaurant Revitalization Fund, which was created by the American Rescue Plan that Congressman Ruppersberger helped pass last month.
While no industry has been spared by the COVID-19 pandemic, restaurants have been hit particularly hard. Over the last year, food service sales have fallen $255 billion and 110,000 restaurants have closed, according to the National Restaurant Association.
“This program will be a lifesaver to so many restaurants that are just hanging on by a thread,” Congressman Ruppersberger said. “These are places that provide first jobs to many teens and lifelong careers to others. They are community gathering spots. They sponsor our kids’ rec leagues and host our weddings, our funerals, our family birthday celebrations. And their survival is critical to our nation’s economic 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.
- Restaurant owners can find a funding guide HERE and a sample application HERE.
- Restaurant owners can visit SBA.gov/restaurants for more information.
Entities eligible to apply include restaurants, food stands and trucks, caterers, bars, saloons, lounges, taverns, snack bars, bakeries, breweries, microbreweries, wineries and distilleries and inns. Early priority will be given to very small businesses and those owned by women, veterans or socially and economically-disadvantaged entrepreneurs.