FORT WORTH, Texas — Business owners in the food industry can start registering Friday for the Small Business Association's Restaurant Relief Fund.
The relief fund provides $28.6 billion in support to restaurants and food establishments that have suffered financial losses during the COVID-19 pandemic, according to a release from the City of Fort Worth.
The Restaurant Relief Fund was established by the American Rescue Plan Act. Eligible businesses include restaurants, bars, food trucks, caterers and more, the SBA said.
The SBA said for the first 21 days the program is open, it will prioritize woman-owned businesses, veteran-owned businesses, and owners who are socially or economically disadvantaged.
After that, applications will be considered on a first-come, first-serve basis, the SBA said.
Businesses are eligible for funding equal to total revenue lost due to the pandemic, Fort Worth said, up to $5 million per physical location and $10 million per business.
Businesses that use these funds for eligible purposes by March 11, 2023 do not have to repay, the SBA said.
Applications can be submitted starting Monday, but registering early will give owners a chance to begin gathering documentation and details.