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Restaurant Revitalization Fund – COVID Relief For the Ready! | Wendel Rosen LLP


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Help is on the way for restaurant owners who were hit hard by the COVID-19 pandemic. On March 11, 2021, President Joe Biden signed the American Rescue Plan Act of 2021  (the “Act’), a $1.9 trillion bill aimed at boosting the American economy during the COVID-19 pandemic. The Act created a $28.6 billion Restaurant Revitalization Fund (RRF). Unlike the Paycheck Protection Program (PPP) loans, the RRF will be administer directly by the Small Business Administration (SBA).
What is the RRF grant?
An eligible restaurant business may receive a tax-free federal grant equal to the amount of its COVID 19 pandemic-related revenue loss. Unlike the PPP, the RRF is a grant, which means you do not need to pay it back.  ....

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