NEWS RELEASE
FOR IMMEDIATE RELEASE:
April 20, 2021
MEDIA CONTACT: Matthew Johnson
Director, Planning & Community Development Department
218-725-5008
County encourages eligible businesses to apply for Restaurant Revitalization Funds; announces virtual information sessions to assist
Financial help will be coming soon for restaurants, bars and other similar food or beverage businesses affected by the pandemic and subsequent shutdowns. St. Louis County is encouraging all eligible businesses to start preparing now to apply for these funds.
The federal Small Business Administration (SBA) will be awarding $28.6 billion in grants through the Restaurant Revitalization Program. The funding comes from the American Rescue Plan Act and is intended to provide emergency assistance to eligible entities that suffered revenue losses related to the COVID-19 pandemic. Exact dates for the application period have not yet been announced, but it is expected to open within the next few weeks.
While this is a federal program, and the county does not have a role in the application or decision making process, the St. Louis County Planning and Community Development Department is working to assist area businesses with questions they may have about program guidelines and how to apply.
The county will host two virtual information sessions to provide information and answer questions about the Restaurant Revitalization Program. The sessions will be Friday, April 23, at 11 a.m.; and Wednesday, April 28, at 6 p.m. More information and links to join the meeting can be found on the County's COVID-19 Business Resources page: stlouiscountymn.gov/c19business.
"The restaurants and bars in our county have faced enormous challenges during this pandemic, and we urge them to apply for one of these grants," said County Board Chair Mike Jugovich. "While the county doesn't have a say in how these funds are distributed, our staff has prioritized getting educated on the program's guidelines so we can be a resource for business owners as they work through the application process."
According to the SBA's guidelines, grants will range from $1,000 to $5 million per location for applicants who meet eligibility requirements. Eligible uses include payroll, mortgage, rent, debt service, utilities, supplies, construction of outdoor seating, and similar business operating expenses. Funds must be used by no later than March 11, 2023. Full guidelines can be found at www.sba.gov.
###
|
