The Small Business Administration will begin a “phased launch” of the $28.6 billion restaurant grant program in April, according to a top official at the SBA, reports Politico Pro.
SBA associate administrator Patrick Kelley told lawmakers, "We're focused like a laser on standing it up as quickly as possible.”
However, Kelley warned that timing also depends on the SBA working with the Office of Management and Budget and selecting a vendor to scale up a grant platform to deploy “hundreds of thousands of grants.”
Kelley expects the program to roll out over 30 to 45 days and that the SBA will give priority to businesses owned by women and veterans, as well as socially and economically disadvantaged restaurants. Full Story (Subscription required)
Related: Congress Gives Final Approval on Relief Package; Restaurant Relief Fund Injects Optimism Into Industry.