Business & Tech
Lexington Area Restaurants Received Revitalization Grants
Lexington area restaurants were helped by a federal program as part of the American Rescue Plan Act.
LEXINGTON, SC — The Restaurant Revitalization Fund doled out more than $28.6 billion in grants to eateries that sustained financial losses during the pandemic, including several Lexington area restaurants.
The fund was established as part of the American Rescue Plan Act of March 2021. More than 101,000 restaurants received grants as of June 30, according to the Small Business Administration. The average grant size was $283,000.
Restaurants were eligible for up to $10 million in grants, with no more than $5 million per location. Funds don’t have to be repaid if they are used for eligible expenses, such as payroll or rent, through March 11, 2023.
The following Lexington area restaurants were among those that received a Restaurant Revitalization Fund grant. Check here for a full, searchable database.
Business: EASTERN BUFFET OF LEXINGTON INC.
- Lexington, SC, 29072
- Grant amount: $529,961
Business: OAK GROVE FISH CAMP LLC
- Lexington, SC, 29073
- Grant amount: $284,140
Business: COLUMBIA HOSPITALITY GROUP LLC
- Lexington, SC, 29072
- Grant amount: $154,875
Business: JM KATZ ENTERPRISES LLC
- Lexington, SC, 29072
- Franchise: WILLIE JEWELL'S OLD SCHOOL BAR-B-Q
- Grant amount: $153,421
Business: LAWRENCE MOORE
- Lexington, SC, 29073
- Grant amount: $139,167
Business: JUST DESSERTS BY DENISE LLC
- Lexington, SC, 29072
- Franchise: Menchie's
- Grant amount: $121,677
Business: LITTLE CHINA BUFFET OF COLUMBIA INC.
- Lexington, SC, 29072
- Grant amount: $64,685
Business: Iron Grill LLC
- Lexington, SC, 29072
- Franchise: Tokyo Grill
- Grant amount: $49,359
Business: XLB FOOD SERVICES
- Lexington, SC, 29073
- Grant amount: $31,939
Business: OM VISIONS LLC
- Lexington, SC, 29072
- Franchise: Subway
- Grant amount: $25,485
Calls for more aid from industry leaders
The Restaurant Revitalization Fund received praise from industry members for its simplicity, but many applicants were shut out when funding dried up in June.
Nationwide, restaurants submitted more than 278,000 applications, totaling $72.23 billion in requested aid. Around 177,000 applicants were denied grants.
There was also confusion about prioritization of funds. The SBA originally prioritized funding for restaurants owned by women, veterans and underserved populations. Some business owners sued, and the SBA ended the practice; around 3,000 priority applicants had grants rescinded, according to The New York Times.
The restaurant industry has lost around $290 billion in sales since the beginning of the pandemic, according to the National Restaurant Association. Some 90,000 restaurants closed permanently or long-term.
The bipartisan Restaurant Revitalization Fund Replenishment Act proposal would provide $60 billion in additional funding for the program if passed.
“The success of the RRF so far is, in large part, because the SBA focused on making the program simple and accessible,” NRA Vice President Sean Kennedy said in a statement. “We appreciate how swiftly they were able to establish a program unlike anything they had administrated before, and believe it has the structure to sustain additional funding.”
Editor’s note: This post was automatically generated using data from the SBA. Feedback can be sent to content@patch.com.
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