Did your restaurant take a hit during the COVID-19 pandemic? Then Layton City’s Community and Economic Development department wants your business to know about the upcoming Restaurant Revitalization Fund. Created through the American Rescue Plan, this new fund is designed to help local businesses that may not have been able to access the PPP during 2020.
If you own or manage a restaurant and were impacted by COVID-19, this program was intended for you. If your business was open on February 15, 2020, these funds will be available to eligible entities through December 31, 2021. Eligible businesses include restaurants, food stands, food trucks, food carts, caterers, saloons, inns, taverns, bars, lounges and more.
While the U.S. Small Business Administration is not yet accepting applications, there are a few key items businesses should do know to be ready to apply:
- Get a DUNS number
- Register your business on the Sam.gov website
- Compile tax and financial records for 2019 and 2020
During the covered period, grant funds may be used for payroll, mortgage obligations, rent payments, utilities, maintenance expenses (includes construction), supplies, protective equipment, cleaning materials, food and beverage expenses, operational expenses, paid sick leave, and any other expenses that the SBA Administrator determines to be essential.
This grant will be available directly from the SBA. A total of $25 billion has been set aside in the Treasury that will remain available until expended.
As we have more information about the application and where to apply, Layton City’s Community and Economic Development department will provide updates on its website and through social media channels. More information regarding that process from the SBA is expected in the coming weeks.