By Carol Robidoux, Manchester InkLink
MANCHESTER, NH – When COVID-19 landed in the U.S. in one of the hardest-hit industries was restaurants. Many were forced to close with no notice, leaving many workers suddenly unemployed. Although some businesses were able to pivot to take-out and slowly recover some of what was lost, or apply for Paycheck Protection Program loans to keep their workforc, the government in 2021 established the Restaurant Revitalization Fund, a $28.6 billion fund administered by the U.S. Small Business Administration to help those eligible businesses that were still standing to rebound.
The program, which is no longer taking applications according to the SBA website, has provided 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. Funds were approved in June.
As of Jun 30, there were 101,004 U.S. businesses approved for $28,574,979,472 in Revitalization funds. Of those, there were 418 NH restaurants approved for $90,697,690.
Below are the 40 restaurants in Manchester that received a total of $7,977,668 in funding, followed by the complete list of NH restaurants on the list of recipients.
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