208x 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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