top of page

Get Ready to Apply for Your Restaurant Revitalization Grant

Mark Gleason, President & CPA

The Small Business Administration is getting ready to accept applications for tax free grants to be paid from the $28.6 billion Restaurant Revitalization Fund.


Qualified business recipients are eligible to receive funding equal to their pandemic-related revenue loss (2019 revenue minus 2020 revenue) up to $10 million, reduced by PPP loan proceeds received.


If you qualify for one of these grants, it is important to submit your application on the first day the SBA starts accepting applications. The demand for these grants is expected to exceed the funds available.


Here is a link to the sample application form released by the SBA earlier this week:


Get this sample form and start filling it out today.


Who qualifies?


Restaurants

Food stands, food trucks, food carts

Caterers

Bars, saloons, lounges, taverns

Snack and nonalcoholic beverage bars

Bakeries (if 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)

Inns (onsite sales of food and beverage 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


For additional information please review the SBA's Restaurant Revitalization Funding Program Guide (April 20, 2021):





- Mark S Gleason CPA




13 views0 comments

Recent Posts

See All

IRS is Forgiving Late Filing Penalties

The Internal Revenue Service recently announced blanket forgiveness of late filing penalties for 2019 and 2020 tax returns. Tax filings...

Bad Accounting Practices to Avoid

Keeping your company books and financial records in order is a time consuming process that is a challenge for all business owners. Here...

Comments


GET IN
TOUCH

3800 American Blvd W

Ste 1500

Bloomington, MN 55431
 

Tel. 952-435-6630

Email mark@mattson-cpa.com

 

Newspapers_edited_edited.jpg
Thank you for joining our email list

SUBSCRIBE

We proudly serve the Twin Cities, including St. Paul, Minneapolis and the surrounding metro.

©2022 Mattson Gleason CPAs Ltd.

blue-seal-bbb-logo.png
mncpa-logo_edited.png
bottom of page