One of the hardest hit sectors in San Marcos and across our country has been our restaurants and bars. During the pandemic we’ve seen them adapt to all the changes the government placed in their way. Some were successful, others struggled.
This week the federal government opened the Restaurant Revitalization Fund program that provides emergency assistance for eligible restaurants, bars, and other qualifying businesses that have been impacted by COVID-19. These funds are targeted to open the hardest hit sectors, but people feel the $28.6 billion could run out in weeks.
This program is part of the $1.9 trillion American Rescue Plan Act that was passed by Congress in March of this year. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.
