Did you know?
The Small Business Administration has allocated $28 billion in funding for a new program to help struggling restaurants and food industry establishments, starting May 3rd, 2021. To qualify, the food establishment must have experienced a decline in sales from 2019 to 2020. These funds are available and are to be used for payroll costs, utility payments, supplies, food and beverage costs, and business operating expenses.
Things to know
- The RRF will apply to bars and restaurants which include food stands, food trucks, caterers, and coffee shops, or other related businesses.
- Priority is given during the first 21 days of the program to women, veterans, and socially and economically disadvantaged-owned businesses.
- $5 billion are reserved for restaurants earning less than 500k per year.
- Restaurant owners must provide annual reporting to SBA until awarded funds are exhausted and detail the costs for which the funds were used.
How to apply
You can apply through the SBA’s website or by calling JPG Team to assist you with this process. There is additional documentation required and our team of experts can simplify the process for you. Applications are now open.
Visit JPGTeam.com or Call 281-720-6623