Operating a restaurant is an exciting business venture. Whether a new or existing restaurant, owners must determine an operating budget based on projected sales, fixed and variable costs, and expected profits. Many restaurants fail, however, due to a lack of funding. There are many expenses to be considered, including food, inventory, marketing and advertising, maintenance and janitorial service, and payroll. In addition, there are costs for rent or lease, license fees, insurance and property taxes. Covering all these expenses can be a challenge. Fortunately, there is help through funding. Funding is likely needed for restaurant sustainability. Grants are more favorable than loans because they are money that does not need to be repaid. Below are grants extended to restaurants in 2022 to offset pandemic setbacks and support economic viability.
Restaurant Grants in 2022
Restaurants Care – Offers $3,000 grants to independent restaurants in California. This grant is awarded to restaurants for kitchen equipment or retention bonuses, focusing on kitchens and crews. This grant also provides one year’s access to experts, discounts, and training. Applications open April 15-30, 2022.
Restaurant Revitalization Fund (RRF) – Provides funding to restaurants equal to their pandemic-related revenue loss. It can be as much as $10 million per business but no more than $5 million per location. If funds are used for eligible expenses no later than March 11, 2023, the money given does not need to be repaid. Application approvals extend through 6/30/21 (check this date – should it be 2022?).
Restaurant Resiliency Program (RRP) – Restaurants that participate in this program partner with New York’s food banks to provide prepared meals to families in need. Participants must follow program rules and food safety standards. Applications opened on October 4, 2021, and are ongoing. For further information, contact: RestaurantResiliency.Information@agriculture.ny.gov
Downtown Outdoor Dining Grant Program – Maximum award is $1500 to help businesses implement outdoor dining areas. It is available to the downtown Baton Rouge business community and includes 50% reimbursement for furniture, Sidewalk Café application, and a first year permit. This grant is open to all business owners operating an establishment located within the Downtown Development District boundaries. Contact email@example.com with questions.
Merchant Maverick Opportunity Grants – This grant is offered to Asian and Pacific Islander (AAPI) American citizens who own a restaurant or other foodservice business. Ten Opportunity Grants of $10,000 each will be awarded to ten different AAPI-owned restaurants. Applications opened on January 3, 2022.
Although the deadline has passed for many available grants in 2022, there is hope for more funding soon. The Relief for Restaurants and other Hard Hit Small Businesses Act of 2022 passed in the House on 04/07/2022, promises $13 billion to the most compromised small businesses and restaurants. Under this bill, the Hard Hit Industries Award Program offers amounts capped at $1,000,000 to restaurants that suffered revenue losses of 40% or more due to the pandemic. Priority will be given to applicants that suffered 60% – 80% in revenue losses. Funds may be used for mortgage, rent, utility payments, and payroll expenses. This bill extends to March 11, 2023.