Rep Casten: American Rescue Plan Relief for Restaurants Available
Downers Grove, IL – Today, U.S. Representative Sean Casten (IL-06) announced that restaurants in Illinois will be able to apply for direct relief through the Restaurant Revitalization Fund beginning Monday, May 3, at 12:00 p.m. ET. Applicants can register on the U.S. Small Business Administration application portal beginning Friday, April 30 at 9:00 a.m. ET.
The $28.6 billion Restaurant Revitalization Fund was created by the American Rescue Plan that Rep. Casten helped pass last month. The law incorporated key provisions from the RESTAURANTS Act, which Rep. Casten also co-sponsored in the previous Congress.
"Independent restaurants are part of what makes our community so special, where we gather with friends and family and mark special occasions in our lives," said Rep. Casten. "With this direct relief program through the American Rescue Plan, we're able to help these restaurants keep the doors open and workers employed. I'm proud to have passed this bill because I know the comeback of our restaurant and hospitality businesses is an important key to full economic recovery."
The Restaurant Revitalization Fund will provide restaurants and other eligible businesses with funding equal to their pandemic-related revenue loss up to $10 million per business. The relief does not have to be repaid, provided that the funds are put toward eligible uses by March 11, 2023.
- Find a funding guide HERE and a sample application HERE.
- Visit SBA.gov/restaurants for more information.
The Restaurant Revitalization Fund application portal can be accessed at https://restaurants.sba.gov/requests/borrower/login/. Participating POS providers include Square, Toast, Clover, NCR Corporation (Aloha). Entities that work with Square or Toast, you do not need to register beforehand on the portal.
Entities eligible to apply:
- Restaurants
- Food stands, food trucks, food carts
- Caterers
- Bars, saloons, lounges, taverns
- Snack and nonalcoholic beverage bars
- Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
- Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
- Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
- Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
- Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
- Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products