Restaurant owners should be watching for the launch of the Restaurant Revitalization Fund to be administered by the U.S. Small Business Administration. The $28.6 billion fund will be created as part of the American Rescue Plan Act.
The SBA has not released details about the fund yet, but news reports indicate the agency plans to launch the program within weeks. The National Restaurant Association has produced a document that includes some details of the fund. Access the PDF.
One requirement for the fund will be that businesses must be registered in the federal System for Award Management (SAM.gov). Businesses can complete that registration now to avoid delays once fund applications open.