US SBA program offers grants of up to $10 million per business and no more than $5 million per physical location
The US Small Business Administration (SBA) will begin accepting applications for Restaurant Revitalization Fund Grants on Monday, May 3, 2021 at 9:00 a.m. The purpose of this funding is to support the restaurant industry by providing funding to those that have suffered significant pandemic-related revenue loss. SBA is collecting the requested information to determine whether applicants are eligible for funding.
In preparation for and to increase the chances of receiving the grant, Monterey Park business owners are strongly urged to attend a City of Monterey Park Zoom webinar on “How to Apply for the Restaurant Revitalization Fund Grants” on Tuesday, May 4 at 9:00 a.m. to ensure a smooth and efficient application.
To register for the Zoom webinar, please Click Here or visit www.montereypark.ca.gov/econdev.
SBA will provide up to $5 million per location (not to exceed $10 million total for the applicant and any affiliated businesses) for applicants who meet certain conditions. Awardees will not be required to repay funds received based on certain conditions.
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, including:
- Food stands, food trucks, food carts.
- Bars, saloons, lounges, taverns.
- Snack and nonalcoholic beverage bars.
- Brewpubs, tasting rooms, taprooms.
- Inns, breweries, and more.
For more information on the webinar, please contact the City of Monterey Park Economic Development team at 626-307-1314. We can also assist with other resources to help Monterey Park businesses recover and keep workers employed.
Joseph Torres, Economic Development Manager
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