By Keiter CPAs
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
Disclaimer: This content has been prepared for general guidance and informational purposes only based on the date published.
The FFCRA, CARES Act, and SBA Paycheck Protection Program (PPP) are continually releasing new guidance that may change the information provided within this content. Keiter recommends that you perform your own independent research and/or speak with a qualified accounting professional before making any financial business decisions. © 2021 Keiter, All Rights Reserved.
About the Author
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.