The American Recovery Plan Act provides $1.9 trillion to address the continued impact of Covid-19 on the economy, public health, state and local governments, individuals, and businesses. In this article, we go in-depth to examine the ARPA’s $28.6 billion Restaurant Revitalization Fund. The RRF is intended to provide emergency assistance to eligible restaurants so they can keep their doors open for business and cover pandemic-related revenue-losses.
Tribally owned restaurants are eligible recipients for RRF funds. The restaurant must be owned at least 51 percent by an Indian tribe.
At this time, the Small Business Administration is accepting applications from all eligible applicants and will distribute funds in the order in which an application is approved by the SBA; this will continue until all RRF funds are disbursed. Applicants are encouraged to apply as soon as possible.
The RRF provides eligible restaurants with grants up to $5 million per location for payroll, mortgage, rent, utilities, business maintenance, supplies, paid leave, and operational expenses. Grant recipients will receive a minimum of $1,000. Recipients have a limited time to expend funds on eligible expenses provided under the RRF, and there are limited funds made available through the program.
Eligible restaurants can apply over the phone, through SBA-recognized Point of Sale Restaurant Partners or directly through SBA’s application portal, which is expected to be online soon. Applicants will be required to provide documentation of their revenue losses as well as certain business tax information.
Patterson Earnhart Real Bird & Wilson LLP is ready to assist tribes and tribal businesses that wish to obtain RRF funds. To learn more about this issue and how we can assist, contact attorney Thomasina Real Bird in our Colorado office at (303) 926-5292.