Just before Thanksgiving, the Small Business Administration (SBA) announced that it was releasing an additional $83 million in unused Restaurant Revitalization funds, some 18 months after the program officially closed. The monies have been earmarked for 169 restaurant operators in the order that their applications were received back when the program was operable. The US…
Read More »The U. S. Small Business Administration (SBA) confirmed this week that there remains approximately $180 Million in the closed Restaurant Revitalization Fund (RRF) and it will soon begin distributing those funds to qualified restaurants. The RRF, launched in 2021 to counter the devastation that the pandemic heaped upon the restaurant industry, was initially funded to…
Read More »Congress last week gave final passage to a government spending bill that authorized – and funded – the government to keep operating through the end of the current fiscal year on September 30, 2022. In the process however, it seemingly killed any hope of replenishing the Restaurant Revitalization Fund (RRF) for the foreseeable future. President…
Read More »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…
Read More »While the Restaurant Revitalization Fund (RRF) languishes in Washington DC, the state of New York is moving forward with its own small business grant program and this week began making payouts to approved applicants. The New York COVID-19 Pandemic Small Business Recovery Grant Program actually launched over a month ago and has received over 50,000…
Read More »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 –…
Read More »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…
Read More »Notwithstanding constitutional and other issues with SBA programs designed to assist small businesses recovering from the coronavirus pandemic, some states are successfully launching assistance programs. New York is one example as the Cuomo administration announced the Small Business Pandemic Recovery Program last week and began accepting applications on June 10. The application process, which will…
Read More »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.…
Read More »