Las vegas restaurants

Restaurant Revitalization Fund to help struggling Las Vegas restaurants

Las Vegas restaurateur John Anthony said things were looking up for his business, thanks to a new federal grant for restaurants and bars.

“Before the pandemic, we were close to opening three new restaurants,” said Anthony, managing partner of Sparrow + Wolf. “We were obviously able to go around the cars very quickly. We were able to retreat from all of the conversations we had with the owners and sort of became dormant. “

Now, he said, “We’re starting these conversations all over again because that (grant) is there.” This will allow us to get back into a growth mindset.

Anthony was one of many local restaurant representatives who spoke at a press conference on Wednesday to discuss the Restaurant Revitalization Fund, a $ 28.6 billion program under U.S. law. President Joe Biden’s rescue plan, enacted on March 11.

U.S. Representative Dina Titus hosted the conference outside Esther’s Kitchen in downtown Las Vegas to show how the fund will benefit restaurants in southern Nevada. It’s another lifeline for one of the hardest-hit groups in the state following state-imposed closures and capacity restrictions, efforts to curb the spread of COVID-19.

“The restaurant business has been really negatively affected by our inability to go out,” Titus said. “We have lost over 100,000 restaurants in this country in the past year – or roughly 2.5 million employees – some of them will come back and some will not. So we want to do everything we can to help them because not only are they a fun place to go, but they add to the diversity and culture of our community.

Esther’s Kitchen owner and chef James Trees said that while the restaurant has been able to create workarounds to stay afloat, additional funding options will not only help Esther’s Kitchen, but the entire restaurant supply chain.

“We have the opportunity to go back to our suppliers, to start using our farmers again, and it’s going to help local businesses all over the valley, so we’re very excited about it,” Trees said.

Help

The catering fund describes eligible businesses as’ restaurant, food stand, food truck, catering cart, caterer, saloon, inn, tavern, bar, lounge, brasserie, tasting room, tasting room, installation under license or local of an alcoholic beverage producer where the public can taste, taste or purchase products.

Eligible businesses may receive a non-taxable federal grant equal to the amount of their lost revenue from the pandemic, calculated by subtracting 2020 gross revenues from 2019 gross revenues. The grant amount cannot exceed $ 10 million and is limited to $ 5 million per location. Owners with more than 20 locations as of March 13, 2020 are not eligible, as are publicly traded companies.

Applicants can use the funds to cover business-related costs such as payroll, rent, utilities, maintenance, supplies, covered supplier costs, and operational expenses.

The Small Business Administration is responsible for administering the grant.

Nevada SBA Director Joseph Amato, who spoke at the press conference, said he expects companies to start applying in May, while noting that the SBA of the state is still awaiting federal guidance.

“With the Restaurant Rescue program, it’s really about reviewing the advice and how we’re going to distribute it fairly, using the right priorities and ensuring that all the businesses that need the help the most will get the most. ‘help, especially in underserved communities,’ he said.

Amato said that, including other federal funding programs administered by the SBA, such as the Economic Disaster Loan and the Paycheck Protection Program, the state has received more than $ 6 billion in funding. support and help.

Contact Subrina Hudson at [email protected] or 702-383-0340. To follow @SubrinaH on Twitter.



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