$28.6B Grant Fund for Restaurants Accepting Applications

$28.6B Grant Fund for Restaurants Accepting Applications
Montine McNulty

Arkansas restaurants that suffered losses during the pandemic can now apply for a Restaurant Revitalization Fund Grant from the U.S. Small Business Administration.

The $28.6 billion federal program provides restaurants, bars, caterers, inns and other eligible establishments grants equal to their pandemic-related revenue losses.

For the first 21 days, applications from women, veterans and socially and economically disadvantaged individuals will be prioritized. In addition, $9.5 billion has been reserved for smaller businesses.

"The Restaurant Revitalization Fund will have an immediate impact on Arkansas's hardest hit restaurants and bars and will help boost the recovery of our local economies," Montine McNulty, CEO of the Arkansas Hospitality Association, said in a news release. "We've been working with the National Restaurant Association and SBA to educate local owners, and we expect application numbers on the first day will be through the roof. The need for these grants is still very high and it's likely the $28.6 billion will be depleted quickly."

Business owners can register, create their SBA portal login and download the application here.

If owners are using an SBA-recognized point of sale system, they can apply directly through that company.

The National Restaurant Association offers a step-by-step guide for the application process as well.