Federal Pandemic Relief
THE RESTAURANT REVITALIZATION FUND (RRF)
The Restaurant Revitalization Fund (RRF,) which will provide much-needed grants to restaurants nationwide, was passed in early 2021 as part of the American Rescue Plan Act.
Eligible restaurants may receive a federal grant in the amount of their pandemic-related revenue loss (minus any funds they received from the Paycheck Protection Program.)
Learn more about how losses are calculated, eligible expenses, and the time period for which the grant can be used: RRF Policy Brief from the National Restaurant Association
Also, see answers to your most Frequently Asked Questions (FAQ).
PAYCHECK PROTECTION PROGRAM (PPP)
Congress passed a pandemic relief bill in December 2020 that created a second opportunity to use forgivable loans from the Paycheck Protection Program (PPP.)
In order for the loans to be fully forgiven, proceeds must be used for allowable expenses during an 8-week or 24-week period after your restaurant receives the funds.
Because of the work of our partners at the National Restaurant Association, restaurants – the industry hardest-hit by the pandemic – have more access to PPP funds than other industries do.
Learn much more about forgivable loan amounts, who’s eligible, and which expenses are forgivable: PPP Policy Brief from the National Restaurant Association
EMPLOYEE RETENTION TAX CREDIT (ERTC)
Eligible restaurants can use this tax credit for employee wages that were not directly paid with Paycheck Protection Program (PPP) dollars.
You can access up to $5,000 per employee, per calendar quarter in 2020, and up to $7,000 per employee for each of the first two quarters of 2021 (ending June 30, 2021.)
An example of how ERTC can be useful: a restaurant kept its employees on payroll thanks to the PPP, but later ran out of PPP dollars. The ERTC can be used to offset the costs of payroll after PPP dollars ran out.
There is much to know about eligible payroll expenses and specific circumstances for qualifying businesses: ERTC Policy Brief from the National Restaurant Association
CRA members receive more detailed information, including access to our Helpline and Legal Center. Interested in membership? Click here to learn more.