United States President Joe Biden last Thursday signed the $1.9 trillion coronavirus relief and stimulus package, known as the American Rescue Plan. A major component of the bill is a $28.6 billion Restaurant Revitalization Fund, which is likely to affect thousands of U.S. coffee retailers.
No matter what angle the plan is viewed from, it involves the single largest financial relief program ever to target the restaurant sector in the United States, and it specifically sets aside funds for small and independent restaurants with less than $500,000 annual revenue a category occupied by many small coffee retailers.
Here are some of the most prominent elements of the American Rescue Plan’s Restaurant Revitalization Fund likely to affect coffee shops, their owners and their workers:
Who Is an Eligible Entity?
A restaurant, food stand, food truck, food cart, caterer, saloon, inn, tavern, bar, lounge, brewpub, tasting room, taproom, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products, or other similar place of business in which the public or patrons assemble for the primary purpose of being served food or drink; including an entity located in an airport terminal or that is a Tribally-owned concern.
Who Is Not an Eligible Entity?
An entity described above that:
Is a state or local government-operated business;
As of March 13, 2020, owns or operates (together with any affiliated business) more than 20 locations,