$29 Billion Restaurant Revitalization Fund Accepting Applications Beginning May 3

COVID

04/28/2021

$29 Billion Restaurant Revitalization Fund Accepting Applications Beginning May 3

Restaurants may begin submitting applications on May 3, 2021, to the Small Business Association (SBA) for a grant program geared toward combating the
the economic impact of COVID-19 on the restaurant industry.

The grant program, the Restaurant Revitalization Fund, was allocated $29 billion from the $1.9 trillion economic relief bill passed earlier this year.
Through the fund, eligible restaurants can receive up to $10 million per business or up to $5 million for a single physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023

Establishments eligible to apply for the grant program include restaurants (including franchises), bars, food trucks, breweries, bakeries, and caterers,
among others. Ineligible establishments include those that are permanently closed, publicly traded companies and businesses that own over 20
locations.

Funds may be used for specific expenses, including:

 Business payroll costs (including sick leave) Payments on any business mortgage obligation
 Business rent payments (this does not include prepayment of rent)
 Business debt service, both principal and interest (this does not include any
prepayment of principal or interest)
 Business utility payments
 Business maintenance expenses
 Construction of outdoor seating
 Business supplies, including protective equipment and cleaning materials
 Business Food and beverage expenses, including raw materials
 Covered supplier costs
 Business operating expenses

What’s Next?

Interested businesses should begin the application process as soon as possible. They can do so by preparing the proper documentation, registering for
the portal on April 30, and submitting their application on May 3. As with similar loan programs launched during the COVID-19 pandemic, this grant
money is limited and is expected to go quickly.

Additionally, the SBA announced that it will prioritize the applications of small businesses owned by women, veterans, and socially and economically disadvantaged individuals for the first 21 days of the grant program. This means it’s even more important for organizations to jump in line as close to the May 3 opening as possible. Employers should visit the SBA website to learn more about the Restaurant Revitalization Fund.

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Why Presidio For Your Insurance Needs

presidio group insurance
Tuesday November 10th, 2020

Why Presidio For Your Insurance Needs

As a business that first started from the ground up, we understand and know firsthand you have a lot on your plate. We know as a company that has had years of building, connecting, staffing, building relationships with clients, and making sure employees are first. We know having a business is an overwhelming experience.
 
Now put a Pandemic on top of all of that and include what is going on personally with the way everything is changing as well as professionally. Everyone’s plate is overflowing.
So why take on another task when you can have Presidio find you the best insurance and do all the work for you.
Finding insurance will be the most important aspect of your business. It is important not to let anything slip through the cracks. Business insurance is very important and needs immediate attention. Let Presidio answer all the questions you may have as well as finding you the most cost effective insurance for you or your business.
During this difficult time, we have seen many businesses afraid, worried, nervous about income loss, and even having their business looted and everything that comes with that. We are here to not only help you during these difficult times but also offer our support and help you find the best way to protect you during any circumstance.
The whole concept of insurance is to cover yourself, or your family and business financially against instances that you would not otherwise afford to cover. We all know that recently we have had many unforeseen circumstances. A question that you may have starting out is, “How will insurance help your business”.
  • Insurance covers you against financial risk of being found liable for causing injury loss, or damage to a third party or their belongings while on your property.
  • Insurance can help cover you against claims and legal costs that may arise.
  • Now with valuable data being online you also have to protect your important documentation, employee information, client and customer’s information etc.
  • Depending on the size of your company and the number of employees you hire, you may consider income insurance, business interruption, and/or personal accident insurance.
  • Most importantly, making sure you are protected for something that you have worked so hard for.
We understand that there many choices to choose from and the insurance process can be very overwhelming. Working with one of our brokers will help you figure out what is best for you. Choosing insurance is just as important as the person you work with to help find the right coverage.
What makes Presidio different? The difference is we know from experience, knowledge, and have learned from our own mistakes with running a business that there is no one size-fits-all when it comes to insurance. We know and understand every business has different requirements, factors, and all are ever changing no matter what industry. We are here to learn about you and your business. Just like Presidio, we are proud of the business, friendships, and family we have built.
It is important for you to take the time to evaluate your business and what those risk factors may be and then call us to speak to a broker to find you the best solution. We are human like you, and we will treat you as we do our own employees, like family.
 
Our Promise is your Protection.

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