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Restart Act


The RESTART Act provides a new loan program to fund six (6) months of payroll and fixed operating expenses. Some, or the entirety of the loan, is eligible for forgiveness. The amount that is not forgiven is to be repaid over seven years with favorable interest rates. The loan is 100% guaranteed by the federal government.


The following parameters determine a business's eligibility:

  • Businesses with fewer than 5,000 employees.
  • Businesses with fewer than 500 employees qualify for more generous terms regarding loan forgiveness.
  • A Business must certify that it suffered at least a 25% loss of revenue for an 8-week period between February 15, 2020 and July 31, 2020.

General Loan Terms

The terms of the loan as follows:

  • The maximum loan is capped at the lesser of 45% of 2019 gross receipt or $12 million.
  • Loan proceeds may be used for payroll, benefits, fixed operating expenses, and necessary expenses including interest payments on a pre-existing mortgage or other pre-existing debt.
  • No principal payments for the first two years and no interest payments for the first year.

Forgivable Expenses

Forgivable expenses include:

  • Payroll up to $100,000 per employee Benefits
  • Utilities PPE
  • Interest payments

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