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Author: Mark Hamstra Restaurant operators said they are hopeful that the American Rescue Plan signed into law by President Biden last week will help prevent any more restaurants from closing, after the COVID-19 pandemic has wiped out thousands of locations across the country. The new program includes a $28.6 billion Restaurant Relief Fund up to $10 million per restaurant and can be used to cover a wide range of pandemic-related costs. The grants will be distributed through the Small Business Administration, and include a $5 billion carveout specifically targeting small restaurants with less than $500,000 in revenues in 2019. The grants also prioritize businesses owned and controlled by women, veterans, and others considered socially and economically disadvantaged.

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