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National Relief

March 27, 2020
As we all head into the weekend we want to share important information with you about opportunities for relief on the local and national level. 
National Relief
As you know, Congress passed the CARES Act and it was signed into law by the President today. The CARES Act offers support for employers and employees during this incredibly tumultuous time, and while there are still some unknowns regarding implementation, timing and overall access, we want to share what we do know as of today. 
Our partners at the National Restaurant Association hosted a webinar today to discuss the CARES Act. If you were not able to join the webinar Use the link below to enter the webcast at any time. WEBCAST LINK.  (You will need to click on "Register" on the left side to receive a link via email to listen to the recorded webinar)
The estimated effective date of the CARES Act is 4/15, and the Small Business Administration, Department of Labor and Department of Treasury will provide guidance within 15-days. 
Paycheck Protection Program (PPP):
  • Paycheck Protection Program (PPP) is the biggest benefit for employers. 
  • Two Main Goals of PPP:
    • Give operators access to liquid cash now. 
    • Allow operators to hire back laid off or furloughed employees and pay staff for an 8-week period.
  • PPP Application will be available after 4/15. Apply for PPP by April 30 to maximize the 8-week period, which ends June 30. 
  • PPP provides a forgivable loan 2.5 times your monthly payroll for an 8 week period. In order for the loan to be 100% forgiven you must retain your entire staff. If you have already reduced staff or closed that is okay, because you are granted the ability to hire people back. 
  • PPP can be used to cover: 
    • Payroll
    • Rent or lease obligations 
    • Utilities
  • The PPP loan cannot be used in conjunction with the Employee Retention Tax Credit (ERTC) or Emergency Injury Disaster Loan (EIDL). 
  • We are getting clarity on how the existing SBA Loans, through your State, can be compatible with the PPP to better help you decide what is your best route. 
  • Worker Support: The CARES Act provides an additional $600 per furloughed, laid off or terminated employee in addition to whatever is paid by the state Unemployment Insurance.
  • Business Insurance Policies: Many businesses are trying to file business insurance claims but are being told that a reduction in operation does not qualify for force majeure, so benefits are not being paid. The National Restaurant Association proposed to Congress the establishment of a fund to help with these types of claims on the insurance front. There are no details on this now, but it is in the conversation for Phase 4 relief.  
What Should You Do Now
The PPP Application will not be available until 4/15. Take the time between now and then to assess which combination of relief options may be right for you. These conversations can start with your restaurant accountant, lender or attorney once all entities have more clarity.  We too as an organization will share any guidance we receive from our legal and financial partners including Veritas Law, Culinary Public Accountants and Eagle Bank.  
Stay Tuned For More
The National Restaurant Association is also hosting a webinar with the Small Business Administration on Tuesday (details to come).  For those interested, please find a helpful summary of the legislation here. 
It is known that the legislation that passed is very helpful, but it is also known that more relief is needed and that is being worked on as we learn more about what is included in Phase 4 of the Federal relief. 
DC Relief
The deadline to apply for the DC Small Business Recovery Microgrant Program closes at 6pm on Tuesday, March 31st. This is the main form of grant relief the DC government is providing at this time, so make sure you apply before the deadline. If you applied before the criteria eligibility was adjusted on 3/25, you may want to submit a new application, if you felt the application did not allow you to accurately reflect your lost revenue.
Click here to apply. 
VA Restaurant Campaign March 30-April 5
As we are promoting take out and delivery options across the region, RAMW will join a statewide campaign in Virginia to promote the “Virginia is for Restaurant Lovers Takeout Week” taking place March 30-April 5. The state tourism board,, is utilizing their well-known “Virginia is for Lovers” slogan and outreach to promote restaurants across the state. They have a list online here, broken up by regional locations, of restaurants who are offering takeout and delivery. 
As always, we are here to help and be a resource for you. If you have any questions, please email for a timely response. 
As always, more to come. 
Be safe! Be kind!