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Here's which restaurants in Arizona were approved for Restaurant Revitalization Fund grants

Posted at 10:52 AM, Jul 13, 2021
and last updated 2021-07-13 13:52:06-04

Restaurants, bars and related businesses in Arizona were approved for $294.5 million in Restaurant Revitalization Fund grants, but industry advocates are still hoping for additional money for the $28.6 billion COVID-19 relief program that quickly exhausted its funding.

The Small Business Administration last week released a list of the more than 101,000 businesses that were approved for funding from the program. You can find a searchable database of businesses approved for loans at the bottom of this story.

While consumers have been flocking to Valley restaurants the last few months as COVID-19 restrictions have been lifted, the industry is still suffering with a labor shortage and restaurant owners are still suffering from large financial losses and debts they incurred in 2020.

A total of 1,325 restaurants in Arizona were approved RRF grants with an average grant size of $222,246.07. Nationally, the average grant size was $282,909 and nearly 43% of grants were for $100,000 or less.

A total of 66 businesses across the U.S. were approved for the maximum $10 million grants. The highest grant approved in Arizona was for $5 million. It was given to the Squire Motor Inns Inc., which owns and operates the Best Western Premier Grand Canyon Squire Inn in Tusayan just outside of Grand Canyon National Park.

Read more of this story from the Business Journal.