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RESTAURANT REVITALIZATION FUND MAY OFFER RELIEF TO LOCAL FOOD/BEVERAGE INDUSTRY

One of the many provisions of the American Rescue Plan is a $28.6 billion grant program designed to aid restaurants and taverns.

The Restaurant Revitalization Fund (RRF) provides for grants, not loans, which will not necessitate repayment.

The definition of “eligible entity” includes businesses with onsite sales to the public comprise 33 percent of gross sales.

Thus, bakeries, food trucks, caterers, breweries and wineries may qualify for the grants.

The application process should be posted by the Small Business Administration (SBA) this month.

Eligible RFF recipients can expect grants that match their pandemic-related revenue losses. This is based upon 2019 receipts minus 2020 revenue and any Payroll Protection Program loan monies received.

Economic Injury Disaster Loans (EIDL) are not deducted from RRF grant amounts.

Eligible expenses include payroll costs, mortgage payments, rent, utilities, outdoor dining construction costs, personal protective equipment, food and beverage costs, operational expenses, paid sick leave and other expenses.

The act includes these expenses incurred from Feb. 15, 2020, to Dec. 31, 2021.

During the first 21 days of grants, the SBA will prioritized applications from women, veteran and minority-owned businesses.

Details must still be finalized by the promulgation of rules and regulations by the SBA.

More information is available at rff@restaurants.org.


THIS ARTICLE WAS PUBLISHED IN THE April 16 ISSUE OF FOCUS SB - THE INQUISITOR.