The Restaurant Revitalization Fund provides funding to help restaurants and other similar businesses keep their doors open during the COVID-19 pandemic.
Alabama has received approximately $ 1.9 billion in funding from the CARES Act to respond to and mitigate the coronavirus pandemic.
We’ve picked out some of the data highlights, but you can review the numbers yourself here.
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Which Montgomery restaurants received the most money?
Full Armor Foods LLC., Chow Town Inc. and 7413 EastChase QSR LLC., Or BurgerFi, were the top three recipients of Restaurant Revitalization Fund dollars.
They received approximately $ 1 million, $ 878,736 and $ 826,538 respectively.
Of the top five recipients, one was designated as a women-owned business; none were from a veteran.
One of the 60 eligible businesses listed was owned by veterans. Thirty-three of the 60 were owned by women.
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What was the fork of money received?
The least money allocated, according to this dataset, was to YJC LLC, which owns Satsuki Sushi on 6534 Atlanta Highway in Montgomery. He received approximately $ 6,107.
Two other Montgomery businesses – H&Y Pretzel Bakery (Tante Anne’s) and caterer Kamisha Coleman – also received less than $ 10,000. Only one company, Full Armor Foods LLC, owner of Martha’s Place Buffet, received $ 1 million or more.
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How can restaurants use the money from the Restaurant Revitalization Fund?
- Payroll (not including salaries used for employee retention credit (ERC)
- Principal or interest on mortgage bonds
- To rent
- Maintenance, including construction to accommodate outdoor seating
- Personal protective equipment, cleaning supplies and products
- Normal food and beverage inventory
- Certain operational expenses covered
- Paid sick leave
The program provides restaurants with funding equal to their lost revenue from the pandemic of up to $ 10 million per business and no more than $ 5 million per physical location.
Recipients are not required to repay funding as long as funds are used for eligible purposes by March 11, 2023.
Molly Weisner is a digital producer for the USA Today Network. Find her on Twitter @molly_weisner.