$ 28.6 billion in grants available for restaurant relief
POUGHKEEPSIE, NY – Restaurants in the Hudson Valley, hit hard by the coronavirus pandemic, are eligible for direct federal assistance, thanks to a provision in the US bailout.
Senate Majority Leader Charles Schumer said more help was underway, but local restaurants had to apply.
At a press conference outside Essie’s restaurant in the town of Poughkeepsie, Schumer said the new restaurant relief fund, modeled on the bipartisan restaurant law, will provide a $ 28.6 billion down payment in flexible grants through the Small Business Administration. a lifeline for the restaurant industry.
“Putting federal funds into the hands of struggling small businesses, like the Hudson Valley restaurants, not only makes sense,” Schumer said, “but it’s the recipe needed to keep small businesses as good as possible. that of Essie ”.
Brandon Walker, the chef and owner of Essie’s restaurant, said he was grateful for the US bailout.
“Not only will this help my business recoup its losses, it would help other Hudson Valley restaurateurs and small business owners like me continue to serve their respective communities,” he said, “ and continue to fulfill their dream of owning a small business. reality.”
Food and beverage establishments, including caterers, breweries, taprooms and tasting rooms, that are not part of an affiliated group with more than 20 locations will be eligible.
To provide full support to local restaurants, grants from the fund can be used alongside Paycheck Protection Program First and Second Loans, SBA Economic Disaster Loan Assistance, and Tax Credit. for employee retention.
Schumer said it was a critical time for food and beverage establishments in the Hudson Valley.
“The SBA needs to roll up its sleeves as soon as possible and start the difficult but important job of getting these funds to our restaurants in Dutchess County,” he said.
The maximum grant is $ 10 million per restaurant group and $ 5 million per individual restaurant. Eligible expenses include payroll and benefits, mortgage, rent, utilities, maintenance, supplies, including PPE and cleaning materials, food, and operational expenses.
Grants can be spent on eligible expenses from February 15, 2020 to December 31, 2021. The administrator can extend the period under justified conditions.