Texas restaurants should submit their applications as soon as possible
AUSTIN, TX (May 3, 2021) – Starting today, Texas restaurants that suffered losses during the pandemic can apply for a Restaurant Revitalization Fund Grant from the U.S. Small Business Administration (SBA). The $28.6 billion federal program provides restaurants, bars, caterers, inns, and other eligible establishments grants equal to their pandemic-related revenue losses. Every eligible business should plan to apply Monday at 12 p.m. ET. For the first 21 days, the fund prioritizes applications from women, veterans, and socially and economically disadvantaged individuals, and reserves $9.5 billion for smaller businesses.
“The Restaurant Revitalization Fund grants will have an immediate impact on Texas’ hardest hit restaurants and bars and will help boost the recovery of our local economies,” said Dr. Emily Williams Knight, President and CEO of the Texas Restaurant Association. “We’ve been working with the National Restaurant Association and SBA to inform local restaurant owners about the process, and we expect application numbers on the first day will be through the roof. The need for these grants is still very high and it’s likely the $28.6 billion will be depleted quickly. We encourage our federal lawmakers to create another round of funding through the RRF and SBA.”
Business owners qualified to apply for grants should plan to submit their application as soon as possible. Here’s what they need to know:
- Owners should register and create their SBA portal login and download the application here.
- If a restaurant is using an SBA-recognized Point of Sale system, they can apply directly through that company, rather than register directly on the SBA portal.
- Applications from women-, veteran- and socially and economically disadvantaged-owned businesses have priority for the first 21 days.
- The National Restaurant Association has a Step-by-Step Guide for the application process.
The online application will remain open to eligible establishments until all funds are exhausted.
Restaurants have been the hardest hit industry during the on-going pandemic. According to a recent study by the National Restaurant Association on the impact in Texas:
- 81% of Texas operators say their profit margin is lower than it was prior to the COVID-19 outbreak.
- 84% of restaurant operators say their current staffing level is lower than what it would normally be in the absence of COVID-19.
- 74% of operators say their total food costs (as a percent of sales) are higher than they were prior to the COVID-19 outbreak.
- Nationally, more than 90,000 restaurants are closed permanently or long-term.
Restaurant operators can go here to find more information about eligibility and to get answers to the most common questions about the grant fund.
About the Texas Restaurant Association
The Texas Restaurant Association was formed in 1937 to serve as the advocate in Texas and the indispensable resource for the foodservice industry. Today, as a leading business association, TRA represents the state’s $70 billion restaurant industry, which comprises more than 50,000 locations and a workforce of 1.3 million employees. Along with the Texas Restaurant Association Education Foundation, the Association protects, advances, and educates the growing industry.
Next Article ›