Louisiana Restaurants and Bars to Benefit from Biden Relief Bill
Yesterday afternoon President Joe Biden signed the American Rescue Act. The $1.9 trillion dollar package will put money in the hands of Americans who need it and it should extend a helping hand that has been desperately needed by the restaurant and bar industry across the country.
It's estimated that $28.6 billion of the total value of the measure will go to support bars and restaurants that were drastically affected by the coronavirus pandemic and mitigation efforts to control the virus. Many in the industry say the Restaurant Revitalization Fund will be a welcomed relief.
The Restaurant Revitalization Fund is very broad in what it will cover. That makes it easier for establishments to qualify for the funding. Restaurants, bars, taprooms, and even food trucks can qualify for the money.
Business owners will also have a very broad palette of choices on how they might choose to spend the money that is being offered. From what we understand everything from payroll, rent, mortgage, maintenance, cleaning supplies, inventory, paid sick leave and a myriad of other expenditures will be covered. The limit any one location may receive is five million dollars with a total maximum of ten million dollars.
These monies should go a long way in helping the entertainment and hospitality industry get back on its feet. Obviously, the money will have to be applied for and members of the Louisiana Restaurant Association might reach out to that organization for guidance on streamlining that process. That organization will host a webinar on the revitalization plan on Monday. Here's where you can sign up for that.
Based on what we are hearing from people around the area the Restaurant Revitalization Fund can't come fast enough because we, the people, are more than ready to step out and pass a good time with a good meal.
Our only other piece of advice, eat locally when you choose to go out, and please be mindful of whatever restrictions individual restaurants and bars might have in place. They're only doing what they feel they need to do to keep the doors open, the lights on, the food hot, and you coming back again and again.
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