Overview of the Restaurant Revitalization Fund

Overview of the Restaurant Revitalization Fund

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Keiter Advisors Provides A Primer on the Restaurant Revitalization Funds

The March 11, 2021 American Rescue Plan Act of 2021 (ARPA) established the Restaurant Revitalization Fund (RRF).

The RRF provides support to businesses where the public (or patrons) assemble for the primary purpose of being served food or drink. The program seeks to give eligible entities a tax-free federal grant equal to the amount of its pandemic-related revenue loss, subtracted by the total amount a qualifying business received in all PPP loans. The Small Business Administration (SBA) will administer and disperse the funds and is set to start accepting applications on May 3rd, 2021.

Read the full article to access an overview of the RRF and application details, including specific definitions of terms.

ABOUT KEITER ADVISORS

Keiter Advisors is a full-service transaction advisory group serving companies in middle market M&A transactions and financing. KA is recognized as the national leader in assisting owners to:

  • Buy or sell foodservice distribution, meat processing and produce companies
  • Plan and execute transition strategies, including family buy out initiatives and third party sale
  • Examine the profitability of their business and develop viable improvement programs
  • Renegotiate existing financing arrangements and secure new lenders

About the Author

Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.

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