The Latest Business Grants for Restaurants and Restaurant Revitalization
Restaurants have been hit harder by the pandemic than nearly any other industry. From shutdowns to worker shortages, independent food service businesses that are still afloat could almost certainly use a boost. Luckily, there are some small business grants available specifically to restaurants. Here are some nationwide opportunities, along with state and local small business restaurant grants.
Latest Business Grants for Restaurants
These are the latest business grants available for restaurants.
SBA Restaurant Revitalization Fund
The Restaurant Revitalization Fund is a restaurant funding program launched through the Small Business Administration and American Rescue Plan Act. Restaurants can apply for funding equal to their revenue losses related to the pandemic, up to $10 million or $5 million per location. Restaurants, bakeries, wineries, inns, bars, and food carts and stands are all eligible to apply. Funds tdo not need to be repaid as long as they’re used by March 11, 2023.
Uber Eats and Visa Grants for Growth
Uber Eats and Visa are providing grants to independent restaurants in ten cities. Businesses that are active on Uber Eats can apply for grants of up to $10,000 to cover payroll and other operating expenses. Restaurants must have fewer than five locations, with revenues of less than $3 million and fewer than 50 employees per location. Applications are due January 24.
USHCC and Grubhub Restaurant Small Business Grant Program
The U.S. Hispanic Chamber of Commerce Education Fund and Grubhub have partnered to support Hispanic-owned restaurants. They plan to distribute about 300 grants ranging from $5,000 to $10,000 to support restaurants affected by COVID. Hispanic-owned restaurants can apply online until January 26.
National Restaurant Association Educational Fund Scholarships and Grants
The National Restaurant Association Educational Foundation is offering more than $1 million in scholarships and grants to individuals. These are to support those pursuing a secondary degree related to the restaurant, food service, or hospitality industries. While not specifically a business grant, restaurant owners can use these to further their education. And those interested in breaking into the industry may benefit as well. They range from $2,500 to $10,000 and can be used for tuition or any other school-related expenses. March 15 is the deadline to apply.
State and Regional Restaurant Grants
State and regional business grants are typically less competitive than national grants. Maybe these opportunities are right for your business.
TX Restaurant Relief Fund
The Texas Restaurant Foundation offers grants of up to $5,000 per restaurant unit. Funds are intended to help restaurants stay open and retain staff. Funds come from private donors and large corporations across the state, including ??Blue Cross and Blue Shield of Texas, Shiner Beer, the Wholesale Distributors of Texas, and National Republic Distributing Company. They organization has a goal of raising $10 million to distribute to independent restaurants.
Maui County Small Business Grant Program
Maui County and Maui Federal Credit Unions have partnered to support restaurants, bars, and other businesses hit hard by COVID-19. The Maui County Small Business Grant Program is funded through the American Rescue Plan Act. Eligible restaurants must be able to prove a 25 percent decline in gross revenue from 2019 to 2020, have $2 million or less in gross revenue in 2020, and have an active lease or rental in Maui County. Applications are available online now.
Illinois Restaurant Association Restaurant Employee Relief Fund
The Illinois Restaurant Association Educational Foundation offers an ongoing grant opportunity for restaurant workers facing hardships. Grants offer between $250 and $1,500 to cover living expenses after life-altering events like accident, illness, or death of a close family member. These are for individuals rather than businesses. But restaurants in the state may help employees by ensuring they’re aware of this opportunity for support.
Downtown Baton Rouge Outdoor Dining Grants
The Downtown Development District of Baton Rouge has a grant program for downtown restaurants looking to add or improve outdoor dining spaces. Grants reimburse up to 50 percent of expenses for things like furniture and layout plans. They also reimburse permit fees and provide technical assistance from DDD staff. The maximum funding amount is $1,500. And these grants are available on a first-come, first-served basis.
North Carolina Business Recovery Grants
The North Carolina Department of Revenue offers multiple Business Recovery Grants for businesses affected by COVID-19. The program includes a grant specifically for food service businesses. Eligible applicants may receive a one-time payment of up to $500,000. The application period closes January 31.
Beaverton COVID-19 Relief Grants
The city of Beaverton, Oregon is providing pandemic relief grants to businesses with fewer than 25 employees. The program includes about $1.8 million from the American Rescue Plan Act, which businesses can use for expenses like utilities, inventory, and rent. Businesses must be able to prove that they are still losing money due to the pandemic. And funds are mainly set aside for businesses like restaurants, bars, and gyms. The deadline to apply is February 4.
Boston Restaurant Revitalization Program
Boston’s Restaurant Revitalization Program offers grants of $5,000 to restaurants in the city. They can cover any business-related expenses and are not tied to specifics like rent or payroll. Restaurants with tipped employees may also be eligible for an additional $15,000 grant if they pay at least $12.75 per hour to those employees for one month and meet other requirements.
This article, “The Latest Business Grants for Restaurants and Restaurant Revitalization” was first published on Small Business Trends