GRA Weekly | March 21, 2021

GRA Weekly

March 21, 2021

IGNITING A TEAM OF TOP PERFORMERS

Why do some businesses seem to have outstanding employees while others struggle? This webinar will focus on what you can do to attract, train and retain a team of highly qualified team members. Key insights will include how to create a “magnetic” recruiting strategy to attract the right applicants, where to find them and how to maximize the effectiveness of training, incentives, and communication to build a high-performing team that ignites your business.

RESTAURANT REVITALIZATION FUND

Grants

An eligible business may receive a tax-free federal grant equal to the amount of its pandemic-related revenue loss, calculated by subtracting its 2020 gross receipts from its 2019 gross receipts.

If the business is not in operation for the entirety of 2019, the total is the difference between 12 times the average monthly gross receipts for 2019 and the average monthly gross receipts in 2020 (or a formula from SBA).
If the business is not in operation until 2020, it can receive a grant equal to the amount of “eligible expenses” subtracted by its gross receipts received (or a formula from SBA).
If the business is not yet in operation as of the application date, but it has made “eligible expenses,” the grant would be made equal to those expenses (or a formula from SBA).

Distribution

The SBA can adjust awards based on demand and “relative local costs” in the markets where RRF businesses operate. Otherwise;

$23.6 billion is available for the SBA to award in an equitable manner to businesses of different sizes based on annual gross receipts.
$5 billion is available to businesses with gross receipts of $500,000 or less during 2019.
Maximum: The total grant amount for an eligible business and any affiliated businesses is capped at $10 million and is limited to $5 million per physical location of the business.

Read More - Policy Brief

Restaurant Revitalization Fund Next Steps Webinar Slides

GRA PSA | RESTAURANTS NEED OUR SUPPORT

STRESS + MENTAL HEALTH SURVEY

The GRA has partnered with the Georgia Food and Feed Rapid Response Team (RRT) and other key partners in helping to develop a survey to assess the impacts of the COVID-19 pandemic on stress and mental health. The RRT is seeking input from essential foodservice/restaurant industry workers on how they have been affected.

This 10-minute confidential and anonymous survey will help inform recovery and resource priorities for this sectors as we move forward. Click here to take the survey. The survey will be open through midnight on Friday, April 2.

If you or someone you know can benefit from immediate support, consider contacting the Georgia COVID-19 Emotional Support Line (1-866-399-8938) or the SAMHSA National Distress Helpline (1-800-985-5990).

SBA ANNOUNCES EXTENSION FOR THE EIDL PROGRAM

The Small Business Administration (SBA) this week announced extended deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022.

All SBA disaster loans made in calendar year 2020, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 24-months from the date of the note.
All SBA disaster loans made in calendar year 2021, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 18-months from the date of the note.