First wave of approved restaurant applicants to receive vital American Rescue Plan funding just one week after the SBA opened for applications
The U.S. Small Business Administration began delivering economic relief from the Restaurant Revitalization Fund, established by the American Rescue Plan and signed into law by President Joe Biden, to more than 16,000 approved applicants. This first round of funding represents more than $2 billion of relief awarded since the organization’s successful program launch. Restaurants and other food and beverage businesses across the nation began to see funds in bank accounts May 11.
“Just one week after launching the $28.6 billion Restaurant Revitalization Fund, I am pleased to officially report that the SBA has begun to fund applications and tha