The House Joint Committee on Tourism, Arts and Cultural Development has supplied information on certain programs funded by the American Rescue Plan catered towards restaurants and live venues impacted by the COVID-19 pandemic.
The Restaurant Revitalization Fund, administered by the Small Business Administration (SBA), will be used to provide application-based financial support to restaurants impacted by the pandemic. Assistance is based on revenue loss, payroll costs, and other factors. Small restaurants (not more than $500k in 2019 gross receipts) are guaranteed at least $5 billion in grants.
When made available to the public, the application will be available at this link: https://www.sba.gov/funding-programs/loans/covid-19-relief-options
The Shuttered Venues Grants recapitalize a $15 billion SBA program to assist operators of live venues impacted by COVID-19. Operators can sign up to be notified when the application is available (expected April 8th) at https://www.svograntportal.sba.gov/s/svog-sign-up-form
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