The Small Business Administration is offering relief grants for the restaurant and food service industry affected by the pandemic.
The Indiana Economic Development Corp. and the Indiana Small Business Development Center encourage state businesses to register and apply for funding as soon as possible. The Restaurant Revitalization Fund provides eligible businesses grants of between $1,000 and $5 million per location to offset expenses, including payroll, supplies, and operating expenses, incurred between Feb. 15, 2020, and March 11, 2023.
The portal to submit applications is open.
“Indiana restaurants and food service owners were quick to respond and pivot during the height of the pandemic,” said David Watkins, state director for the Indiana SBDC. “We’re grateful for their perseverance and want them to know more federal funding will be available through this new relief program (and) it is vital for eligible Indiana businesses to apply as soon as possible, as we anticipate these federal funds will be distributed quickly across the nation.”
The SBA may provide funding up to $5 million per location, not to exceed $10 million total for the applicant and any affiliated businesses. The minimum award is $1,000.
Eligible expenses include business expenses such as payroll, supplies, and operating expenses, construction of outdoor seating and some business debt.
Eligible entities are businesses that are not permanently closed and include businesses where the public or patrons assemble for the primary purpose of being served food or drink and includes:
- Restaurants
- Food stands, food trucks, food carts
- Caterers
- Bars, saloons, lounges, taverns
- Snack and nonalcoholic beverage bars (i.e., coffee shops, ice cream shops)
- 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
Other similar places of business in which the public or patrons assemble for the primary purpose of being served food or drink For more information on available recovery and relief resources, programs and grants available to small businesses, including the Indiana Small Business Restart Grant and Indiana Hospitality and Entertainment Grant, visit isbdc.org/covid-resources.
