DeKalb bars and restaurants hit hard by COVID-19 are being encouraged to apply quickly for a federal Restaurant Revitalization Fund grant.
The grant covers all pandemic-related revenue losses for bars and restaurants. The industry was hit particularly hard by COVID-19 as state safety precautions required bars and restaurants to close. The money does not need to be paid back so long as it is used by March 11, 2023.
Applications are being accepted now, and the program ends when the $28.6 billion budgeted for bars and restaurants is exhausted, so businesses are encouraged to apply as soon as possible.
For most eligible businesses, the possible grant amount is the difference between 2019 gross receipts and 2020 gross receipts, minus any PPP loans that were received. The grants are capped at $10 million per business and no more than $5 million per location.
Along with bars and restaurants, caterers, food trucks, nonalcoholic beverage bars, breweries and other food and beverage businesses are eligible; although, grant guidelines may differ.
The grants are being awarded by the Small Business Administration. Information on applying can be found here: https://tinyurl.com/hf62un5t.