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On March 11, 2021, President Biden signed the American Rescue Plan Act, which appropriates $28.6 billion for a new Restaurant Revitalization Grant Program, to be overseen by the Small Business Administration.
On March 11, 2021, President Biden signed the American Rescue
Plan Act, which appropriates $28.6 billion for a new Restaurant
Revitalization Grant Program, to be overseen by the Small Business
Administration (SBA). With the restaurant industry suffering
an estimated decline of $240 billion in total sales relative to
pre-pandemic forecasts and a loss of nearly 2.5 million jobs, this
financial aid package presents an essential lifeline. Under
the program, the nation's food service providers of all types -
from the corner food cart to the white tablecloth - may be eligible
to receive grants of up to $10 million (or $5 million per physical
location) that can be applied to a variety of uses.
Proskauer's interdisciplinary Coronavirus Taskforce
breaks down the Restaurant Revitalization Grant Program.
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