GRA Weekly | March 28, 2021

GRA Weekly

March 28, 2021

This week's newsletter is brought to you by the UGA Small Business Development Center

FEDERAL RELIEF UPDATE

On March 25th the U.S. Senate passed H.R. 1799, which will extend the PPP application deadline (currently March 31, 2021) two months, to May 31, 2021, and provide an additional 30 days, after May 31, for the SBA to process pending applications.

In a U.S. Senate Small Business Committee hearing, the SBA said it expects a “phased launch” of the $28.6 billion Restaurant Revitalization Grant program to begin in April, over the next 30 to 45 days. This is the first timeline provided by the SBA, which expects to receive hundreds of thousands of grants.

Yesterday, the SBA announced that it is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 Economic Injury Disaster Loan (EIDL) program. Starting the week of April 6, the SBA is raising the loan limit from 6-months/$150,000 max loan to 24-months/$500,000 max loan. Businesses that previously received an EIDL are not required to submit a request for an increase, as the SBA is expected to “reach out directly via email and provide more details about how businesses can request an increase closer to the April 6 implementation date.”

RRF: TAKE STEPS NOW

Not sure about the recommended next steps for the Restaurant Revitalization Fund (RRF)? Concerned about how fast the money is going to go? You can listen to a webinar recording and view slides from the webinar presented by the National Restaurant Association.

The most important steps you can take right now to prepare for RRF:

Sign up for a Data Universal Numbering System (DUNS) number from Dun & Bradstreet, which is free and can take up to two business days to process
Register with the U.S. Federal Government's System for Award Management (SAM), which is free and can take up to two weeks to process
Send a SAM notarized letter to the Federal Service Desk (FDS), a relatively new security procedure

2021 PUBLIC AFFAIRS CONFERENCE

For 35 years, the National Restaurant Association’s Public Affairs Conference has brought together the leaders of our industry for a dialogue with national policymakers and thought-leaders on our public policy priorities. Decisions made in the Capitol have never mattered more to our industry, and you're invited to join this year’s virtual conference on April 20.

This week, two speakers were announced, former Chicago Mayor and Chief of Staff to President Barack Obama, Rahm Emanuel, and Keynote Speaker Dana Perino. Perino is a political commentator and journalist, New York Times best-selling author, and a former White House Press Secretary. She currently co-anchors "America’s Newsroom", and is a co-host on the show "The Five", both on the Fox News Channel.

As a member of the GRA be sure to use member code PAFCMEMBER for a discounted rate. For more details, watch the video and visit the conference website. If you have any questions related to the conference, please email pafc@restaurant.org.

GDOL IMPORTANT REMINDER

GDOL Reminds Claimants to Reapply When Benefit Year Ends

After 53 weeks of the pandemic, many Georgians are reaching the end of the normally allotted time period for receiving unemployment insurance (UI) benefits. Claimants who filed an individual claim and have reached the end of their benefit year should file a new claim to continue receiving payments. A benefit year is the 52-week period beginning on the Sunday of the week a new claim is filed. Once this time period expires, claimants must reapply for benefits reporting any additional work history, including temporary, part-time, self-employment, or W-2 work. Once the new regular UI claim is processed, claimants who are unable to establish a valid regular UI claim will be placed back into the appropriate federal CARES Act program for benefits to continue.

If a claimant’s employer is filing an employer filed claim on his/her behalf and he/she reaches the end of the 52-week period, the benefit year will renew the following week when the employer requests a weekly payment for the employee.

Information on benefit year ending dates can be found on the GDOL website.

Read full press release.

RESTAURANT RESET WEBINAR SERIES

The Restaurant Reset series, presented by the University of Georgia Small Business Development Center, is designed to train restaurant owners and operators in the areas they need for their business to be successful.

Over seven sessions, topics include: financing, marketing, customer retention, alternative lending, finding and retaining employees and expanding food services. Taught by a team of restaurant experts – you will leave with a better understanding of steps needed to ensure your venture is a success. Register today.