Shareholder Mark Heimendinger, who co-chairs Lowndes' Banking & Finance Group, talked to the Orlando Business Journal about the $28.6 billion Restaurant Revitalization Fund (RRF), which was signed into law by President Joe Biden on March 11 as part of the the American Rescue Plan Act of 2021. The fund provides grants of up to $10 million for businesses, but cannot exceed $5 million for individual physical locations.
Heimendinger commented that the grant is "very similar to the PPP [Paycheck Protection Program]," except that the fund is limited to privately owned restaurants, bars, taverns, food trucks, caterers and others with 20 or fewer locations.
Read the article: Is Your Orlando Restaurant, Bar or Catering Biz Still Struggling? Here's How to Tap into Restaurant Revitalization Fund. (subscription required)