Rep. Tom Reed on Monday provided constituents with new information regarding the opening of the Restaurant Revitalization Fund through the Small Business Administration.
Reed urged eligible businesses to apply to the program, which opened at noon Monday. The program aims to help restaurants and other impacted businesses keep their doors open throughout the pandemic.
“Our office is ready to help restaurants who are applying to this program,” Reed said. “While we didn’t support the American Rescue Plan Act, this program is critical to the small businesses across the district. Please reach out to our offices if you need assistance with the application process.”
This program was established by the American Rescue Plan Act and will provide funds equal to the revenue restaurants lost throughout the pandemic up to $10 million, but no more than $5 million per physical location. Funds will not need to be paid back by the businesses if the funds are used in the correct manner by March 11, 2023.
For more information, or to apply, visit SBA.gov/restaurants or call Reed’s office at (315) 759-5229 for assistance.