354x Filetype PPTX File size 0.25 MB Source: hub.wahospitality.org
PRESENTER
RICK BRAA, AMP Services
rbraa@ampservices.com
206.465.1010
RESTAURANT REVITALIZATION FUND
$28.6B
• Part of the $1.9T plan passed in March
• Grants up to $10mm
• The fund sets aside $500 million for
applicants with revenue of $50,000 or less,
$5 billion for applicants with revenue of
$500,000 or less, $4 billion for applicants
with revenue of $1,500,000 or less and…
• $19.1 billion for eligible entities of different
sizes based on annual gross receipts.
RESTAURANT REVITALIZATION FUND
$28.6B
• Good faith certification that—
• Uncertainty of current economic conditions makes
necessary the grant request to support the ongoing
operations of the eligible entity
• Hasn’t received a loan under the Shuttered Venue Act
(generally live venues, generally not applicable to restaurants)
• Initial 21 days priority to small businesses owned and
controlled by women, veterans, socially or economically
disadvantaged small business
RESTAURANT REVITALIZATION FUND
$28.6B
• Maximum $10mm and $5mm per
location, affiliation rules apply
• No more than 20 locations whether the
same or multiple names
• Not publicly traded
• Grant is pandemic related revenue loss
2019 minus 2020 less PPP loan amounts
(special rules for newer businesses)
• Overestimates must be returned
RESTAURANT REVITALIZATION FUND
$28.6B
Eligible entities:
restaurant, food stand, food truck, food cart, caterer, saloon, inn,
tavern, bar, lounge, brewpub*, tasting room*, taproom*, licensed
facility or premise of a beverage alcohol producer where the public
may taste, sample, or purchase products*, or other similar place of
business in which the public or patrons assemble for the primary
purpose of being served food or drink*.
Ineligible entities:
Is a State or local government-operated business; As of March 13,
2020, owns or operates (together with any affiliated business) more
than 20 locations, regardless of whether those locations do business
under the same or different names or are in different industries; Has a
pending application for or has received a Shuttered Venue Operators
Grant; Is a Publicly-Traded Company; Is permanently closed; Is a
Nonprofit organization; Is not eligible for funding of at least $1,000
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