Massachusetts restaurants that struggled to stay open during the coronavirus pandemic will be offered a lifeline of up to $ 10 million as part of a federal aid program, authorities said.
The money is available through the $ 28.6 billion Restaurant Revitalization Fund, which is part of the US $ 1.9 trillion rescue plan passed last month. This emerged from a statement by US Representative Ayanna Pressley on Monday.
“Our restaurants are the backbone of our local economy and are among the hardest hit by this public health and economic crisis,” said the Democrat.
The Fund will provide funding to restaurants and other eligible companies to match their pandemic loss of revenue of up to US $ 10 million per company. The relief does not have to be repaid provided the funds are used for eligible purposes by March 2023.
Restaurants owned and operated by women, veterans or socially and economically disadvantaged women will receive priority for the first 21 days of the application.
In addition to restaurants, other food service companies such as food trucks, caterers, bars, bakeries and brewpubs can also apply.
Applications can be submitted online on the Small Business Administration website.