Restaurant survival hopes pick up as $28.6B in grants begin

NEW YORK (AP) — Thousands of restaurants and bars decimated by COVID-19 have a better chance at survival as the government begins handing out $28.6 billion in grant money to help these businesses stay afloat while they wait for customers to return. The Small Business Administration is accepting applications for grants from the Restaurant Revitalization Fund as of Monday. For the program’s first three weeks, only applications from restaurants that are majority-owned by women, minorities and veterans will be processed and paid out. The grants, up to $10 million, are aimed at replacing lost revenue at restaurant companies with up to 20 locations.