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More Restaurant Funding

During the pandemic, the closure of restaurants meant the loss of jobs.

But now that they’ve reopened some are busier than ever and now in a shortage of workers to keep up with the demand.

It’s been one challenge after another for the hospitality industry but more relief is on the way.

Samantha York tells us what restaurant owners need to know.

“It’s definitely still an uphill climb”

More relief on the way for restaurants

“It’s a lifeline”

Registration is open for the restaurant revitalization fund the latest effort under president Joe Biden’s American rescue plan and applications begin Monday.

“I think it’s going to be helpful to the smaller businesses and then there’s other set asides for the program to really try to target the family owned businesses the small entrepreneur or the organization that maybe has two or
three restaurants but not huge change throughout the country”

28.6 billion dollars in direct relief funds is up for grabs for restaurants and others in the hospitality industry who’ve been hit hard during the pandemic.

“25, 50, Now 75 percent so they’re still not back at 100% capacity and every table that’s empty that’s arguably a loss of revenue”

The US Small Business Administration is offering the support to those experiencing economic distress and operational losses from shutdowns and limited capacity in the past year vowing to provide them with funding equal to their
pandemic related revenue loss up to “ten million dollars per business.

“The way it impacted our local community the tourist industry that’s a huge bulk of all the restaurants business you know and we rely on solid business seven days a week all of us”

It’s prioritizing small businesses as the first 21 days of the program is focused on getting support to businesses owned by women, veterans and socially or economically disadvantaged individuals.

“It’s a great thing to have somebody who can put you first in line for once instead of last”

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