Sen. Hickenlooper marks National Beer Day by advertising the $28.6 billion program aimed at saving breweries, restaurants and food trucks
COLORADO SPRINGS, Colo. (KKTV) - $28.6 billion in relief aid is coming to restaurants across the country.
Sen. John Hickenlooper advertised the Restaurant Revitalization Fund at the Atrevida Beer Company in Colorado Springs on Wednesday. The funds come from President Joe Biden’s American Rescue Plan.
Restaurants can start applying next week for aid through the Small Business Administration. Keep up with 11 News for updates once applications become available.
All kinds of food companies are eligible: restaurants, breweries, bars, and food trucks are all eligible. Applicants can use the money however they please, whether it be for maintenance, payroll, or rent.
The amount of money each applicant gets is based on how much money they lost in 2019 and 2020. No restaurant can receive more than $5 million.
“The pandemic has been hard for businesses, but especially for restaurants, bars, and brewers,” Hickenlooper said. “Dozens of Colorado breweries closed down last year and many more are hurting. The Restaurant Revitalization Fund will help them by providing flexible emergency aid for everything from rent and supplies to the cost of PPE and construction for outdoor seating.”
Unlike relief through the Paycheck Protection Program, grants distributed under the new Restaurant Revitalization Fund are flexible and can be used for expenses in addition to payroll, such as mortgage, rent, supplies, and costs incurred to, for example, expand outdoor seating or pivot to greater take-out options.
Women-owned, minority-owned, and veteran-owned businesses will get priority during the application process.
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