Wareham restaurants get boost from federal grants
Restaurants in Wareham were approved more than $1.7 million in federal grants meant to keep business afloat amid the ongoing Covid-19 pandemic, according to data from the U.S. Small Business Administration.
Here’s which restaurants received the federal funds:
Vel’s Family Restaurant and Lounge saw the highest amount at $442,963; Lindsey’s Family Restaurant received $433,461; Cranberry Cottage got $247,732; Cafe Soleil received $196,388; Riverside Cafe was granted $157,632; Saga Steakhouse received $123,752; Bailey’s Surf ‘N Turf received $98,375; The Gateway Tavern was granted $29,963; and the Subway inside Walmart was granted $21,811.
Funds were from the Restaurant Revitalization Fund, which the federal government passed as part of the American Rescue Plan Act in March. The money is intended for restaurant owners to use on expenses like payroll, rent, construction and maintenance.
Restaurant funding was based on pandemic-related revenue loss, according to the SBA.
Businesses were eligible for up to $10 million in grants, with no more than $5 million per location.
Funds do not have to be repaid if they are used for eligible expenses, such as payroll or rent. Expenses must be reported to the SBA by March of 2023.