The American Rescue Plan Act established the Restaurant Revitalization Fund to provide funding to help restaurants, bars, and other qualifying businesses impacted by COVID-19 assistance in keeping their doors open. The program will provide funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.
The program is administered directly via the SBA and Bay Colony Development Corp does not accept or process applications for the program. More information on the program, requirements and application process can be found on the SBA site by clicking on the hyperlink.