Billions in federal funding available to support restaurants affected by COVID-19

Posted at 5:53 PM, Apr 19, 2021
and last updated 2021-04-19 18:06:39-04

HAMPTON ROADS, Va.— More help is on the way for restaurants impacted by COVID-19.

Billions of dollars in federal funding are up for grabs to help provide emergency assistance for the food and beverage industry.

Like many restaurants around the country, Alkalicious Juice Bar & Vegan Grill is working to overcome financial struggles caused by the COVID-19 pandemic.

Lisa Glapion-Bey opened shop with her husband in the Greenbrier area of Chesapeake in 2016. In addition to the dip in sales and paying for personal protective equipment (PPE), the price for ingredients has also increased.

“Having so many corporate businesses around us close and having employees going home to work, they may not be having their regular lunch with us,” said Glapion-Bey.

The American Rescue Plan, signed into law by President Joe Biden, established the $28.6 billion Restaurant Revitalization Fund to be administered by the U.S. Small Business Administration.

Bars, restaurants, food trucks and breweries are among those who can apply for funding to keep their doors open.

This program will provide restaurants with funding equal to their pandemic-related revenue loss anywhere from $1,000- $10 million per business.

“I think that it would be very, very helpful and supportive and ensure that we can get through the remainder of this pandemic,” said Glapion-Bey.

The U.S. Small Business Administration says it will only process and fund applications from priority groups during the first three weeks of the program.

Priority groups are businesses that are majority owned by women, veterans or those who are socially and economically disadvantaged.

Related: Virginia tourism group asks state for funding from COVID-19 relief bill

The application portal will open to the public at a later date yet to be announced.

Until then, food and beverage businesses can find program details and requirements on the Small Business Administration website.

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