The Small Business Administration began accepting applications this week for a federal program designed to provide relief funds to restaurants and other hard-hit food establishments that have experienced economic distress and significant operational losses due to the COVID-19 pandemic.
Established under the recently passed American Rescue Plan, the $28.6 billion Restaurant Revitalization Fund will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Funds must be used for allowable expenses by March 11, 2023.Â
âLocal food and drink establishments can utilize this special program funding via the SBA,â said Michael Meek, interim CEO of the Greater New Braunfels Chamber of Commerce. âAs long as they expend the funds on eligible expenses before March 2023, the funds are not payable back to the government. The pandemic hit our local restaurants hard, so this is we
According to the Small Business Administration, more than half of Americans own or work for a small business. And those mom-and-pop shops account for two out of every three new jobs in the country.
With that in mind, the Greater New Braunfels Chamber of Commerce is encouraging residents to shop local and show their support for local small businesses during this week, which marks the 58th National Small Business Week.Â
The Chamber encourages all residents to wear yellow on Friday and use #SBWNB on social media this week to show support for local businesses or promote their small businesses.Â
âWithout the small business community, we wouldnât have the heart and soul of New Braunfels,â said Stephen Brockman, the Chamberâs vice president of leadership and small business. âAlthough this is very different from last May, I think itâs more important than ever as we rebound and recover from the pandemic to support those local businesses. They needed our
The Greater New Braunfels Chamber of Commerce recognized Griffin Asset Management owner Glenn Griffin as this yearâs âSmall Business Person of the Year.â
Members of the Chamberâs Executive and Small Business Week committees made the announcement Tuesday while conducting a surprise visit to the honoreeâs business on North Walnut Avenue.
Griffin said he was surprised and humbled to receive the recognition.Â
Griffin Asset Management owner Glenn Griffin hugs his wife and assistant Marcie Giffin after being announced Small Business Person of the Year by the Greater New Braunfels Chamber of Commerce on Tuesday, April 20, 2021. MIKALA COMPTON | Herald-Zeitung
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