Struggling New Mexico restaurants can apply for federal grant

Business

NEW MEXICO (KRQE) – New Mexico restaurants struggling during the pandemic can apply for a federal grant, starting Monday, May 3. It’s part of the nearly $29 billion Restaurant Revitalization Fund in the American Rescue Plan that President Biden signed into law last month.

Monday, Senator Martin Heinrich and Albuquerque City Councilor Pat Davis held a webinar for restaurants, bars, food trucks, and other qualifying businesses. They covered the program details and how to submit an application.

Councilor Davis says they want to make sure New Mexico businesses move quickly to get this funding. “New Mexico is reopening very quickly but our restaurants and bars, for example, have been the last to reopen and they’re still not at 100% capacity. They’re having problems hiring workers, they have to get their supply chains back together and quite frankly, make-up all that time,” said Councilor Davis.

The program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. The registrations for the Restaurant Revitalization Fund will start on Friday, April 30, 2021, at 7 a.m. MST and applications will open on Monday, May 3, 2021, at 10 a.m. MST.

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