NEW YORK (AP) – Thousands of restaurants and bars decimated by COVID-19 have better chances of survival as the government spends $ 28.6 billion in grants – money to help these companies stay afloat while waiting for customers to return.
The Small Business Administration will start accepting applications for grants from the Restaurant Revitalization Fund starting Monday.
During the first three weeks of the program, only requests from restaurants that are majority owned by women, minorities and veterans will be processed and paid out.
The grants of up to US $ 10 million are intended to replace lost revenue at restaurant companies with up to 20 locations.
By Joyce M. Rosenberg, Associated Press