RRF Funding Portal Closes Monday

The U.S. Small Business Administration (SBA) announced yesterday that the application portal for the agency’s Restaurant Revitalization Fund (RRF) would close at 8:00 PM next Monday, May 24. Notwithstanding that the RRF was funded with almost $29 billion and was thought to be a big benefit for the entire restaurant industry, the program has exhausted…

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Remaining COVID Relief $$ Going Too

It’s a similar situation with SBA’s popular Paycheck Protection Program (PPP), which was funded for a 2nd round of forgivable business loans in the $1.9 trillion American Rescue Plan Act. The PPP loan portal was closed to most applicants earlier this month despite the fact that the program was officially extended until May 31.  There…

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SBA Exhausting PPP Funds

Although the Small Business Administration (SBA) is slated to continue taking applications for the popular Paycheck Protection Program until the end of this month, it appears the agency has exhausted its funds for most lenders.  The SBA acknowledged earlier this week that it was not accepting applications for new loans from most lenders – but…

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Court Tosses Eviction Moratorium

A Washington DC-based federal judge has thrown out the eviction moratorium prompted by the coronavirus pandemic and imposed by the Centers for Disease Control (CDC) last year. The federal moratorium on residential evictions has been extended three times since it was first implemented under President Trump last September, was most recently extended by President Biden…

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Fighting the Labor Shortage

With many small businesses continuing to struggle to get the workers it needs to get their business – and state economies – back on track, some states are trying to recreate a work-favorable environment again. Montana governor Greg Gianforte is leading the way with a most creative approach to addressing the current labor shortage in…

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Federal Back to Work Idea

Perhaps taking a page from the Montana playbook, a couple of republicans in Congress have drafted a federal back-to-work bill that seeks to address the current labor shortage on a national level. Idaho Senators Mike Crapo and Jim Reisch along with Representative Kevin Brady (R-TX8) have filed the Reopening America by Supporting Workers and Businesses…

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New York Enacts Heroes Act

On Wednesday, Governor Andrew Cuomo signed the New York Heroes Act into law but has delayed its effective date until the legislature adopts some “technical corrections” the Governor insisted upon. The law mandates that all employers in the Empire State – regardless of the number of employees – must adopt minimum health and safety requirement…

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Business Confidence

Notwithstanding ongoing challenges with the labor shortage and lingering COVID fears, small businesses are generally more optimistic about the future now than they were a year ago, although access to capital is keeping many awake nights. According to a national survey a few weeks ago of 2,140 small business owners by Goldman Sachs, 84% said…

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Restaurant Revitalization Opens May 3

The Small Business Administration (SBA) announced early this week that the $28.6 billion Restaurant Revitalization Fund (RRF) would officially open next Monday, May 3 at 12:00 Noon EDT, but restaurant owners and operators will be able to register for the program through the dedicated SBA RRF portal beginning at 9:00 EDT today, Friday, April 30.…

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Restaurant Revitalization Moves Closer

The $28.6 billion Restaurant Revitalization Fund (RRF) was actually authorized by Congress back in the early part of last month. Despite the fact that the program was signed into by President Biden on March 11, it still is making very slow progress in coming to fruition. The agency succeeded in getting the RRF website launched…

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