WASHINGTON, D.C. – Today, U.S. Senator Jacky Rosen (D-NV), a member of the Senate Committee on Small Business and Entrepreneurship, released the following statement announcing the launch of the Small Business Administration’s (SBA) Restaurant Revitalization Fund. The Revitalization Fund program, established as part of the Rosen-supported American Rescue Plan Act, and totaling $28,600,000,000, is now accepting applications. The provision in the American Rescue Plan Act that created the fund was based on bipartisan legislation Rosen co-sponsored last year and was in line with a bipartisan amendment Rosen voted for in February.
“During the COVID-19 pandemic, Nevada’s restaurants and food vendors were among the hardest hit businesses, and they continue to face significant challenges. Restaurants, coffee shops, and other food vendors are often the heart of our communities, and it is important that they receive the support needed to keep their doors open,” said Senator Rosen. “I’m pleased to hear that the Restaurant Revitalization Fund will be able to help pandemic-impacted businesses to make payroll, pay utilities, and even construct outdoor seating to continue serving their communities. As we work to overcome this challenging time, I encourage all Nevada businesses that meet eligibility requirements to apply.”
BACKGROUND: The Restaurant Revitalization Fund is available to any of the following who have experienced pandemic-related revenue loss:
- Restaurants;
- Food stands, food trucks, food carts;
- Caterers;
- Bars, saloons, lounges, taverns;
- Snack and nonalcoholic beverage bars;
- Bakeries (onsite sales to the public comprise at least 33% of gross receipts);
- Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts);
- Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts);
- Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts);
- Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts); and
- Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products.
Eligible applicants may qualify for grants up to $5 million per location. The amount is based on a calculation of pandemic-related revenue loss in 2020.
In September 2020, Senator Rosen co-sponsored the RESTAURANTS Act (S. 4012), bipartisan legislation to create a multi-billion-dollar revitalization fund at the U.S. Department of the Treasury to provide grants to restaurants, food stands, food trucks, food carts, caterers, saloons, inns, taverns, bars, lounges, and other similar businesses to help with expenses such as payroll, benefits, mortgage, rent, utilities, maintenance, supplies, food, and debt obligations to suppliers. SBA’s Restaurant Revitalization Fund, authorized by the American Rescue Plan Act, is based on this legislation.
###
