The Small Business Administration (SBA) is rolling out a new program aimed at the hard-hit restaurant sector to provide grants to struggling businesses across the country. The program is part of the larger $1.9 trillion relief package passed by Congress earlier this year.

Called the "Restaurant Revitalization Fund," the program is open only to foodservice establishments such as restaurants and bars. The SBA plans to start accepting applications for the program on May 3, though the registration portal will be open from April 30 forward, allowing any interested businesses to register early. According to the SBA, recipients can receive up to $10 million for pandemic-related losses, with up to $5 million allowed per single location.

"Restaurants are the core of our neighborhoods and propel economic activity on main streets across the nation. They are among the businesses that have been hardest hit and need support to survive this pandemic. We want restaurants to know that help is here," said SBA Administrator Isabella Guzman in a statement. "The SBA has focused on the marketplace realities of our food and beverage businesses in designing the Restaurant Revitalization Fund to meet businesses where they are. And we are committed to equity to ensure our smaller and underserved businesses, which have suffered the most, can access this critical relief, recover, and grow more resilient."

During the first 21 days of the program, the SBA plans on prioritizing applications from businesses owned by women, veterans, and other "socially and economically disadvantaged" individuals.

"In addition to historically having less operating liquidity and revenue than almost any other small business demographic, Black-owned restaurants received significantly less stimulus funding during the Covid-19 pandemic, heightening challenges and leading to disproportionate closures," said Ron Busby Jr, President, and CEO of the U.S. Black Chambers.

The SBA's decision to award grants to disadvantaged businesses first is likely an attempt by the Biden Administration to address the shortcomings of President Donald Trump's stimulus programs. The SBA was the subject of deep scrutiny after allegations ran rampant that emergency funds were not only being redirected away from disadvantaged businesses, millions and potentially billions of dollars in funding went to companies with ties to Trump.