Rescue Plan for Restaurants

FINANCIAL GEMS

RESCUE PLAN FOR RESTAURANTS

Submitted by: Pedro T. Rincon, Osborne Rincon CPAs

The American Rescue Plan Act of 2021 includes, among other things, funding of a $28.6 billion Restaurant Revitalization Fund (the “RRF”), with further guidance expected to be provided by the Small Business Administration (SBA).

WHO IS ELIGIBLE FOR RRF GRANTS?

An eligible business is a restaurant, food stand, food truck, food cart, caterer, saloon, inn, tavern, bar, lounge, brewpub, tasting room, taproom, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products, or similar business in which the public or patrons assemble for the primary purpose of being served food or drink. A business will be deemed disqualified from obtaining an RRF Grant if it: • Is operated by a state or local government; • As of March 13, 2020, owns or operates (together with any “Affiliated Business”) more than 20 locations, regardless of whether those locations do business under the same or multiple names; • Has a pending application for or has received a grant under SBA’s Shuttered Venue Operators Grant

Program; or • Is majority-owned or controlled by a publicly traded company.

HOW MUCH CAN AN RRF GRANT RECIPIENT RECEIVE?

A business that is eligible for an RRF Grant may receive an amount equal to its “pandemic-related revenue loss,” subject to a cap of $5,000,000 per physical location and an aggregate cap of $10,000,000 on RRF Grants to it and its Affiliated Businesses.

In determining the amount of the RRF Grants, pandemicrelated revenue losses for an eligible entity are reduced by any amounts received from First Draw PPP Loans and Second Draw PPP Loans.

IS THERE PRIORITY IN AWARDING RRF GRANTS?

Yes – during the initial 21-day period, applications from eligible businesses owned and controlled by women, veterans, or socially- and economically-disadvantaged individuals will receive priority.

HOW CAN RRF GRANT PROCEEDS BE USED?

In general, the funds cover a wide array of costs incurred during the pandemic, including outdoor dining construction expenses, spending on personal protection equipment, as well as cleaning and sanitization from February 15, 2020 to December 31, 2021.

I AM ELIGIBLE! HOW DO I APPLY?

As the fund has been quickly established, the SBA must still design rules and regulations detailing how businesses can apply.

In the meantime, business owners can register for a Data Universal Numbering System (DUNS) number, a ninedigit identifier that is like a “fingerprint” for businesses. A DUNS number is required to receive grants from the government.

You must also register with the U.S. government’s System for Award Management at SAM.gov in order to receive payments.

Pedro Rincon is a certified public accountant and certified valuation analyst with Osborne Rincon, CPAs. He can be reached at (760)777-9805 or princon@osbornerincon.com. Osborne Rincon is one of the oldest and most respected full-service accounting firms in the Coachella Valley. To learn more, go to www.OsborneRincon.com

WHY WATER IS THE WAY TO OPTIMAL HEALTH

Submitted by: Steve Wilson, Independent Certified OPTAVIA Coach

Water plays a key role in supporting health – particularly during weight loss when it helps remove toxins and other unhealthy substances stored in your fat cells. Being well-hydrated helps all your organs and systems function properly.

In fact, every function in your body takes place in water. It’s the solvent that moves nutrients, hormones, antibodies and oxygen through your bloodstream and lymphatic system, It also removes waste and is essential to your kidneys’ ability to filter and eliminate metabolic byproducts and toxins. If you don’t drink enough water, your body is forced to recycle dirty water – diminishing the efficiency of every metabolic function. What you may not realize is that we actually lose nearly 12 cups (96 ounces) of water every day: two cups through perspiration, six cups through urine, two to four through breathing, and – believe it or not – nearly one cup through the soles of our feet!

In high altitudes or dry environments like the desert, you lose even more so you can get dehydrated in a hurry. Spread the word and you might save (or even extend) a life.

Steve Wilson is an Independent Certified OPTAVIA Coach, enabled to help those who desire a healthy body, healthy mind or healthy finances. An OPTAVIA Coach can guide and support you throughout your journey to optimal health and wellbeing. He can be contacted at nextlevelcoaching.tsfl.com or by calling (760) 636-1090.

Discover La Quinta Medical Center

At Desert Care Network’s La Quinta Medical Center Campus you’ll discover an intimate setting for hospital outpatient services. Our services include:

• Desert Regional Medical Center’s Comprehensive Cancer

Center satellite facility offers consultations, infusion services, and screening mammography • Desert Care Network’s Advanced Wound Healing Center offers care for chronic wounds, including diabetic foot ulcers. We are a member of the Amputation Prevention Centers of America. • La Quinta Imaging provides a wide array of medical imaging, including X-ray, CT and MRI scans • Our Neurology Specialty Clinic treats movement disorders, epilepsy and a host of neurological conditions • Desert Care Network Primary & Specialty Care, where patients can schedule appointments with physicians in a variety of primary and specialty services