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The restaurant revitalization fund has the potential to drive recovery in the restaurant sector after a full year of severe dislocation—and it will likely provide better support than the PPP could. That’s because the fund comes with narrow guidelines about the restaurants that can access the money—focusing on small operations that have a clear path to recovery—and how they can use the money. Namely, advance rent and debt payments aren’t on the list.

“The fund is not intended to save anyone that is not going to make it,” Marbet Lewis, founding partner at Spiritus Law, tells GlobeSt.com. “The eligibility requirements prevent the business from being permanently closed. So, it is not intended to get anyone out of debt. It is really geared toward businesses that made it out of the pandemic and now need a little boost to help them get back to a position where they are starting to make a profit. This fund comes at a perfect time for this industry.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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