MI Senators support $60 billion addition to small business fund

LANSING, Mich. (WLNS) — Senators Gary Peters and Debbie Stabenow expressed mutual concerns today about the Restaurant Revitalization Fund in a letter to the Small Business Administration (SBA).

The letter encourages the SBA to consider businesses that have applied for Fund support, as well as providing information to businesses currently seeking aid.

Senators Stabenow and Peters issued a statement regarding issues for small business owners,

“As Senators who are deeply supportive of the Restaurant Revitalization Fund and its mission helping Michigan’s food and beverage providers, we have heard concerning feedback from constituents regarding the program. There are still many Michigan restaurants that have been shut out from the Restaurant Revitalization Fund and with each passing day, more independent businesses are forced to shutter permanently or file for bankruptcy… Further delays in the distribution of information and funding are unacceptable and would have irreversible consequences for this industry.”

Applications for the Restaraunt Revitalization Fund are no longer being accepted, and the strong demand for aid has led to a remarkable depletion of funding resources.

The Restaraunt Revitalization Fund Act of 2021 would provide an additional $60 billion in funding for the Restaurant Revitalization Fund. Both Peters and Stabenow are in support of the Act.

To read the letter written to the SBA, click here.