AG FinTax Brings Unique Restaurant Industry Expertise to RRF Application Process
With grants from the Restaurant Revitalization Fund become available, many foodservice operators scramble to fill out the paperwork for these first-come, first-served grants. Leading the way in helping the restaurant industry file for RRF grants is AG FinTax.
Following their success in 2020 in helping small business owners across all specters receive more than $ 150 million in P3 loans, the business is here to help the restaurant industry again. AG FinTax Founder and CEO Anil Grandhi said this about his company’s readiness to help foodservice operators across the country; “We have a team of professionals who have closely studied the grant program, including eligible entities and the evidence needed to apply. Restaurant owners typically work very long hours and wear so many hats, such as manager, accountant, and occasional waiter, that they likely won’t have the time or resources to put together the documents needed to submit their application in a timely manner. Since the funds are administered on a first come, first served basis, there is concern that funds may not be available to all eligible businesses. “
For those wondering if the Seattle (WA)-based company would be able to help them beat the rush of applicants, Grandhi has an answer. “We can do this remotely, using secure, encrypted portals to exchange data. The onboarding process is quick and we will be able to file applications faster than if a restaurateur had to spend the time doing it themselves, ”said Grandhi. “We have helped 200 small business owners with P3 and were able to get over $ 150 million in this program. It is my know-how. In both the first and second rounds, none of our applications for PPP were rejected. All were accepted.
In addition to knowing how to file your application quickly and efficiently, AG FinTax also knows who is eligible to receive funds for the RRF, in addition to the amount of grant a restaurant is eligible to receive. “Eligible entities are a restaurant, a food stand, a food truck, a food cart, a caterer, a saloon, an inn, a tavern, a bar, a lounge, a brasserie, a tasting room, a tasting room, a licensed facility or the premises of an alcoholic beverage producer where the public can taste, taste or purchase products, and other similar places where the public or customers congregate for the primary purpose of gathering have food or drink served, ”Grandhi said.
“Once you qualify as an eligible entity, you can receive a grant equal to the amount of its pandemic-related revenue loss, which is the difference between 2019 and 2020 gross revenue. If you received a PPP loan at either the first, second, or both, that amount is deducted to arrive at the loss. These funds are grants and absolutely do not have to be repaid unless you shut down your business for good.
According to Grandhi, RRF grants can be used to meet a wide range of financial needs that restaurants are currently facing due to the pandemic. “Generally speaking, the funds granted can be used for the construction of outdoor restaurants, personal protective equipment, cleaning and hygiene supplies, salaries, social charges, mortgage payments, rent, utilities, operating expenses and other related costs and any other expenses that the SBA deems essential. maintenance of the restaurant is usually covered, ”said Grandhi. “Many restaurants had not paid their employees. If they haven’t paid their rent, they can pay it now… they can go back and get well.
For those who wish to contact AG FinTax for assistance in filing RRF grants, they can be contacted by email at [email protected] or by calling (425) 395-4318. Learn more about their website Where Facebook page.