McCollum Announces Fourth District Small Businesses Receive $144.1 Million from American Rescue Plan Programs
WASHINGTON, D.C. – Congresswoman Betty McCollum (MN-04) announced today that the Small Business Administration has granted more than $144.1 million to restaurants, bars, and entertainment venues in Minnesota’s Fourth Congressional District. Congresswoman McCollum voted to provide this funding through the Restaurant Revitalization Fund (RRF) and the Shuttered Venue Operators Grant (SVOG), parts of the American Rescue Plan designed to help small businesses make up for lost revenue due to the COVID-19 pandemic.
More than $106 million was provided to 299 MN-04 businesses through the RRF. The Restaurant Revitalization Fund provides businesses funding according to their pandemic-related losses, up to $10 million per business.
“Restaurants have been some of the hardest hit businesses by the COVID-19 pandemic,” McCollum said. “This emergency funding has been critical in helping restaurant workers keep their jobs and owners stay afloat. I’m pleased to see so many of our local businesses were able to successfully utilize this program.”
Additionally, $38.1 million has been awarded to 44 MN-04 businesses through the SVOG. The Shuttered Venue Operators Grant provides theaters, museums, and performance businesses with up to 45% of their 2019 gross revenue, to a maximum of $10 million. The grant also reserved $2 billion for smaller businesses with 50 or fewer employees.
“The SVOG program has been critical in saving our venues and cultural institutions that are so important to the fabric of our communities,” McCollum said. “As we continue to recover and work to build back better, these programs ensure our nation’s workers, entrepreneurs, business owners, and the local economies they support are not left behind.”
Funding from both programs can be used to pay for business expenses like payroll, rent, and utilities, as well as purchases of personal protective equipment and sanitation supplies.
As part of the American Rescue Plan, the $9.5 billion Restaurant Revitalization Fund was created to support restaurants, bars, and other food venues. The SVOG was established by the bipartisan coronavirus emergency package in December 2020, and was expanded by the American Rescue Plan to a total of $16 billion.