Florida Restauranteurs Get Answers On $28 Billion SBA Fund

The Small Business Administration says it has received more than 186,000 applications for the Restaurant Revitalization Fund, which offers $28.6 billion to help restaurants keep their doors open.

South Florida Democrat Congresswoman Lois Frankel says the pandemic has done a number on those types of businesses.

"10,000 restaurants have closed and over a million people have lost their jobs. In fact, one in four jobs lost in the United States is in the restaurant industry."

She held a webinar this week for folks in the industry, complete with representatives from the SBA to answer questions related to the fund.

Each business is eligible for up to $10 million and the money doesn't have to be paid back if the funds are used on eligible expenses, which include back rent, utilities and payroll. In fact, Althea Harris with the Small Business Administration says they can even be used to give your employees raises.

Frankel said businesses owned by veterans, women and minorities will get priority consideration.

Click Here for more details and to apply for the Restaurant Revitalization Fund.

Photo: Getty Images

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