Replenishing Restaurant Revitalization

Efforts continue in Congress, albeit unsuccessfully at this point, to replenish funding for the popular Restaurant Revitalization Fund (RRF). This most recent effort was lead by Maryland Senator Ben Cardin along with Mississippi Senator Roger Wicker, and would have provided for an additional $48 billion in new funding for the RRF. The program was originally…

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ENTRÉE Act Filed in Congress

With the Restaurant Revitalization Fund (RRF) completely out of funds and shut down for the last month – and against the backdrop of trillions of dollars being proposed for infrastructure and progressive legislative priorities – another bill to replenish the RRF was filed again this week. The Entrepreneurs Need Timely Replenishment for Eating Establishments Act…

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A Post-Mortem on the RRF

So, earlier in this issue, we talked about the Restaurant Revitalization Fund being closed and out of funds. Seems like a post-mortem on the program might be an interesting exercise? Well, it turns out that Subway franchisees were the biggest recipients – in fact, of the 272,000 applications submitted, almost 2,900 Subway restaurants received funding…

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SBA Closes RRF

Rife with problems from the get-go, the Restaurant Revitalization Fund (RRF) was closed to new applications yesterday by the US Small Business Administration (SBA), but the application portal will remain open for another two weeks to allow applicants to check their status. With its creation as an integral part of the American Rescue Plan –…

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SBA Cancels More RRF Funding

On Wednesday of this week, the Small Business Administration (SBA) cancelled another round of Restaurant Revitalization Fund (RRF) payments that had already been approved during the Congressionally-mandated ‘exclusivity window’. This marks the second week in a row when previously approved assistance payments were halted by the agency. The difficulties stem from the fact that Congress…

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SBA Halts RRF Payments

In the wake of a federal court ruling that found the Restaurant Revitalization Fund (RRF) priorities (women, veterans and economically/socially disadvantaged individuals) unconstitutional, the Small Business Administration (SBA) has withheld almost 3,000 additional RRF approved payments to priority recipients. The SBA essentially revoked the priority approvals already given and halted consideration of other priority applications…

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Congress Unveils More RRF Funds

Earlier this week, bi-partisan legislation was introduced in Congress to pump an additional $60 billion into the depleted Restaurant Revitalization Fund (RRF). As we advised just weeks ago, all $29 billion of the original RRF funds were committed within the 3-week priority window (women, veteran or socially/economically disadvantaged business owners) that Congress mandated when the…

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Court Rejects RRF Priorities

A panel of the U.S. Sixth Circuit Court of Appeals has ruled that the 21-day exclusive priority for businesses owned by a “woman, veteran and/or socially or economically disadvantaged individual” to apply for and access funds from the Restaurant Revitalization Fund (RRF) is unconstitutional. The Small Business Administration (SBA) officially opened the $29 billion RRF…

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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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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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