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A Seat at the Table: Restaurants to Receive Long-Awaited Stimulus Funds under the American Rescue Plan: Affiliation Overview | Proskauer Rose LLP

[co-author: Perry Laub]
The restaurant industry has been among the hardest hit by the COVID-19 pandemic. The National Restaurant Association reported in its 2021 State of the Restaurant Industry that, as of December 1, 2020, more than 110,000 eating and drinking places had closed for business either temporarily or permanently since the pandemic’s start. i Industry-wide, restaurants saw a decline of $240 billion in total 2020 sales relative to pre-COVID-19 pandemic forecasts and a decline in nearly 2.5 million jobs from pre-COVID-19 pandemic levels.
On March 11, 2021, President Biden signed the American Rescue Plan Act (the “ARPA”) into law. Section 5003 (Support for Restaurants) of the ARPA appropriates $28.6 billion for a new Restaurant Revitalization Fund from which the Small Business Administration (the “SBA”) will oversee grants to eligible food service providers. This program is aimed at providing critical additional support to the nation’s restaurants an ....

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Restaurant Revitalization Grant Program Provides Grants to a Wide Range of Eligible Entities | Hinshaw & Culbertson LLP

President Biden signed into law the American Rescue Plan Act of 2021 (ARP Act) on March 11, 2021. The $1.9 trillion economic recovery package revised the Paycheck Protection Program. ....

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