The American Hotel & Lodging Association (AHLA) recently distributed the below news about the American Rescue Plan’s Restaurant Revitalization Fund (RRF). This new program, authorized by Congress and administered by the U.S. Small Business Administration (SBA), provides financial support for certain hoteliers across the nation.
The below summary is courtesy of the American Hotel & Lodging Association (AHLA):
SBA Administrator Isabel Guzman recently announced key details on application requirements, eligibility, and a program guide for the Restaurant Revitalization Fund (RRF). Under this announcement, details on application requirements, eligibility, and a program guide are now available at www.sba.gov/restaurants. Eligible entities who have experienced pandemic-related revenue loss include:
- Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
- Restaurants (must have its own tax identification number)
- Food stands, food trucks, food carts
- Caterers
- Bars, saloons, lounges, taverns
- Snack and nonalcoholic beverage bars
- Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
- Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
- Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
- Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
- Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
Eligible entities include any of the above located in an airport terminal or that operate independently (i.e. has its own tax identification number) inside another business (e.g. a restaurant that operates independently inside a hotel or conference center).
For applicants that are an “inn:”
- Documents evidencing that onsite sales of food and beverage to the public comprise at least 33.00% of gross receipts for 2019.
- For businesses who opened in 2020, the Applicant’s original business model should have contemplated at least 33.00% of gross receipts in onsite sales to the public.
THLA is actively coordinating with AHLA to ensure federal officials prioritize the lodging industry’s ability to participate in the RRF program. We will continue to keep THLA members informed of important news or developments related to the RRF program in time ahead.