Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) issued the following statement in advance of the opening of the Small Business Administration’s (SBA) Restaurant Revitalization Fund:
“Today’s opening of the Restaurant Revitalization Fund marks an important milestone for our nation’s restaurants and bars on their road to recovery. For over a year, these establishments have fought tirelessly to keep their business afloat amidst a pandemic that flipped their business models upside down. From offering takeout, to modifying space to allow for outdoor seating, independent eating and drinking establishments have done everything in their power to stay open and continue to support their communities.
“Last year, I consistently heard from restaurant owners that while PPP was helpful in the short run, the pandemic outlasted the program’s capacity. That’s why I worked to include this $28.6 billion program in the American Rescue Plan as a long-term solution that would carry these entrepreneurs through the end of this crisis. I thank SBA for all of their efforts to get this program up and running since Congress created it earlier this year. I look forward to working with the Biden administration to ensure this program is successful and reaches as many small businesses as possible.
“These institutions are pillars of the cities and towns in which they operate. They are where we connect with friends and family, gather as a community, and celebrate special occasions. Today’s program launch means that help is here, and I encourage all eligible businesses to take advantage of it.”