TX-29th District Businesses Receive Over $41 Million from the American Rescue Plan’s Small Business Administration Programs
WASHINGTON, D.C. – The Small Business Administration has reported that it granted over $41 million to restaurants, bars, and entertainment venues in Congresswoman Sylvia R. Garcia’s district, Texas’ 29th. Congresswoman Garcia voted to provide this funding through the Restaurant Revitalization Fund (RRF) and the Shuttered Venue Operators Grant (SVOG), parts of the American Rescue Plan designed to help businesses make up for lost revenue due to the COVID-19 pandemic.
“Businesses like restaurants and theaters have been some of the hardest hit by the COVID-19 pandemic,” said Congresswoman Sylvia Garcia (TX-29). “This money has been critical in helping the people of my district keep their jobs and their businesses afloat. I am pleased to see that so many of my district’s businesses were able to take advantage of this program.”
Over $36 million were provided to TX-29 businesses through the RRF. The Restaurant Revitalization Fund grants businesses funding according to their pandemic-related losses up to $10 million per business.
Additionally, nearly $5 million came to TX-29 businesses through the SVOG. The Shuttered Venue Operators Grant provides theaters, museums, and performance businesses with up to 45% of their 2019 gross revenue to a maximum of $10 million. The grant also reserved $2 billion for businesses with 50 or fewer employees.
Funding from both programs can be used to pay for business expenses like payroll, rent, and utilities, as well as purchases of personal protective equipment and sanitation supplies.
“The RRF and SVOG are saving businesses and saving jobs as we fight the COVID-19 pandemic,” said Congresswoman Garcia. “As we continue to work to recover and build back better, programs like these ensure our nation’s small businesses and entrepreneurs are not left behind.”
As part of the American Rescue Plan, the Restaurant Revitalization Fund was allocated $9.5 billion to support restaurants, bars, and other food venues. The SVOG was established by the bipartisan Coronavirus package in December of 2020 and was expanded by the American Rescue Plan to a total of $16 billion.
Congresswoman Sylvia R. Garcia was elected to the U.S. House of Representatives in November 2018, becoming the first Latina ever to represent the Texas 29th Congressional District. She serves on the House Judiciary and Financial Services Committees