Anticipation! Restaurant Revitalization Fund Applications Open "Soon" as Details are Revealed
4/14/2021
RINA Accountants & Advisors hoped to be able to announce by now that applications to apply for the Restaurant Revitalization Fund (RRF) were open. Although the government promised the program would start "in early April" there has not yet been an opening of applications.
Moreover, the official government sites are mute on details and potential refinements to the RRF.
Comprehensive information and new details on the RRF have been published by the National Restaurant Association. The update that affects the most businesses is the report that brewery, brewpub, microbrewery, taproom, tasting room, inn, bakery, winery, and distillery establishments will only be eligible for grants if at least 33% of their gross receipts comes from onsite sales of food to the public.
The National Restaurant Association's FAQ published Friday -- with the promise it will be updated as more information becomes available -- also includes points about what disqualifies an entity from RRF eligibility, minimum and maximum grants, the eligibility of nonprofits to receive grants, franchise eligibility, the effect of receiving PPP loans, details of "affiliation" and "affiliated business", what documents you should have ready when applications open, and more.
We at RINA will continue to watch for official government announcements regarding the opening of applications and details of the grant process. We will send additional alerts when significant events occur.
In the meantime, we want to share these additional third-party resources:
- "The Restaurant Revitalization Fund: A Primer" from Restaurant Brands International's QSR Magazine (The information closely matches the details in the National Restaurant Association PDF, but is on a web page.)
- National Restaurant Association's sign up form to receive email or SMS messages of major developments
We also invite you to contact RINACARESTeam@rina.com for further information and assistance.