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Grants from $28B Restaurant Revitalization Fund in high demand


Updated: 7:11 AM CDT May 19, 2021
Billions of dollars from the federal government to aid restaurants, bars and other food- and drink-service businesses are going fast.Congress allocated $28.6 billion to the Restaurant Revitalization Fund as part of the nearly $2 trillion American Rescue Plan signed into law by President Joe Biden in March.KCRG reports just two weeks after the fund’s application opened, the U.S. Small Business Administration reports the requests for grants it has received are more than double the amount Congress set aside.“We’ve already exhausted the $28.6 billion that Congress appropriated for this,” said Jayne Armstrong, the Iowa district director of the SBA. “So we’re going to continue to take applications and as Congress is working through the funding issues and getting additional funding for the program.” Since the fund opened on May 3, the SBA has received more than 200,000 requests for aid.The first three weeks are reserved as a p ....

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