New Restaurant Revitalization Fund Program
- A detailed analysis of Act Section 5003 of the American Rescue Plan Act of 2021 (ARPA, effective 03/11/21) including the definition of “eligible entity,” and its reference to “restaurant, food stand, food truck,” etc.;
- The definition of “pandemic-related revenue loss” and how to compute “gross receipts” for 2019 minus the “gross receipts” for 2020;
- The reduction of “pandemic-related revenue loss” for the amount of First Draw and Second Draw PPP loans made in 2020 or 2021;
- The surprisingly broad definition of “covered period;”
- The good faith certification that the uncertainty of current economic conditions makes necessary the grant request to support the ongoing operations of the eligible entity;
- The priority in awarding grants during the initial 21-day period which begins on May 3 (today!);
- The permitted use of grant funds;
- And a detailed review of Form 3172 (Restaurant Revitalization Funding Application dated 04/21).
Please join us on 05/06 (Thursday) from 2:00pm-4:15pm for a first look to see how much (if anything) your restaurant clients can apply for pursuant to this new grant program!!!
Zoom Live Video Conference: May 6th, 2-4:15pm ET