Restaurant Revitalization Fund Distributes $83M in Remaining Funds November 28, 2022 On Nov. 23, the U.S. Small Business Administration (SBA) released a statement about the current state of the Restaurant Revitalization Fund (RFF), which helped more than 100,000 restaurants and food and beverage business owners during the pandemic. WASHINGTON, Nov. 23, 2022 /PRNewswire/ -- Today, the Small Business Administration (SBA) announced the release of $83 million dollars in unobligated Restaurant Revitalization Fund (RRF) grants to 169 operators with pending applications. Oops. Subscribe to Restaurant Dive for top news, trends & analysis, The free newsletter covering the top industry headlines, Permission granted by Starbucks Workers United, The Bornk Tuna Sandwich is Back at Erbert & Gerbert's, Olo and Flybuy Strategic Partnership Launches New Premium, Integrated Olo Expo and Order Fire , Interface Announces Technology Acceleration Program for Franchise Brands & Franchisees, CBS NorthStar and Ovation Join Forces to Boost Restaurant Brands' Revenue, By signing up to receive our newsletter, you agree to our, Webinar H.R.3807 - Restaurant Revitalization Fund Replenishment Act of 2021 117th Congress (2021-2022) Bill Hide Overview More on This Bill Constitutional Authority Statement CBO Cost Estimates [0] Subject Policy Area: Commerce View subjects Give Feedback on This Bill Contact Your Member Summary (2) Text (3) Actions (17) Titles (3) Amendments (1) Recipients cannot claim other expenses paid with RRF grant money as nonpayroll costs for purposes of PPP forgiveness. By June 2021, the funds $28.6 billion had been disbursed to 100,000 applicants in grants averaging $283,000. As a result, the U.S. Congress introduced legislation called the Restaurant Revitalization Fund (RRF) to help restaurants get back on their feet. According to the letter, while the rest of the economy continues to quickly add jobs, restaurant industry job growth in . The President has encouraged most people to stop wearing masks in indoor spaces, something that was unthinkable a year ago. On April 7, 2022, the House passed H.R. In January 2023, SBA stated that it was weighing potential solutions, such as adding functionality in the RRF platform to allow recipients to report their operating status. There are several strategic . According to reporting from CNNs Manu Raju, Senate small business and entrepreneurship committee chairman Ben Cardin said on Tuesday, March 8 that Republican opposition means that the Restaurant Revitalization Fund (RRF) will not be replenished. CPF, documento de identificao ou Cdigo da Conta. The $55 billion bill would largely replenish a grant program created by the American Rescue Plan that provides assistance to restaurants. The SBA is set to award an added $180 million in unspent funds allocated for the Restaurant Revitalization Fund (RRF) back in 2021. And stop digging. For more information, visitRestaurant.org and find us on Twitter@WeRRestaurants, Cision Distribution 888-776-0942 U.S. Small Business Administration RRF Award Portal, Restaurant Revitalization Funding Program. The U.S. House and Senate passed a bill, S.4008, which wouldve added $40 billion to the plan a significant increase over the approximate $29 billion originally proposed in the RRF. Published: Jul 14, 2022. New York City got him rehired, KFC is getting rid of 5 menu items but one fan favorite is finally coming back, Wagamamas Food Fight With Hedge Fund Is Delicious, Smart Mobility Data: The Essential Guide to US Retail Location Selection, What Diners Want: 5 Top Trends in the Restaurant Industry, NRA forecasts 2023 job growth, not major recession, Starbucks board opposes labor review backed by NYC pension funds, CA bill would establish joint franchisor-franchisee liability for QSRs, The Relief for Restaurants and Other Hard Hit Small Businesses Act of 2022 (H.R. After congress walked away from the funds replenishment in March 2022 and the Senate failed to pass the replenishment in May 2022, 177,000 establishments were left without aid. The House already has passed H.R. The first reports were due in December 2021, but 32 percent were overdue as of June 2022. Well, then, what about that will-o-the-wisp, fairness? This plan should include coordinating with the OIG to align efforts to address fraud. But what about those other small businesses (gyms, minor league baseball, etc.) The act illustrates a timeless truth legislative bargaining is additive. We are beyond disappointed that this massive government funding proposal ignores the needs of 177,300 neighborhood restaurants and bars impacted by the pandemic, IRC executive director Erika Polmar said. Restaurant owners plead for Congresss help after omicron surge. There are steps the government can take to support restaurants in every community, and we will continue to press for solutions at the federal, state, and local level.". "With the looming threat of another variant and growing challenges of inflation for both operators and consumers, the economic boost RRF will provide for those 177,000 restaurants would reach far into our communities," Sean Kennedy, NRA's executive vice president of public affairs, wrote in the letter. Reps. Brian Fitzpatrick (R, PA) and Earl Blumenauer (D, OR), and Sens. While SBA prevented over 30,000 suspicious applications from receiving awards, GAO identified systemic control weaknesses. Restaurant Industry News and Resources in Georgia. What are eligible expenses and restrictions that RRF grant recipients should know about? For example, SBA considered applications made through external vendors to be low-risk, but over 4,000 recipients who applied through such a channel have been flagged for suspected fraud or ineligibility, including an alleged fraudster who received $8 million. Cardin's bill, S.4008, would provide $40 billion in additional funding for the Restaurant Revitalization Fund. JUNE 2022: In 2022, many RRF updates are in the works. This field is for validation purposes and should be left unchanged. These restaurants fighting for survival cannot go it alone any longer, and should not be treated as a spot in the rear-view mirror of Congress.". SBA agreed or partially agreed with two recommendations. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. Atendimento ao inscrito. In March 2021, Congress appropriated $28.6 billion to SBA for a Restaurant Revitalization Fund to assist the industry. By contrast, almost half of restaurants that didn't receive RRF funding said it's unlikely they will survive the pandemic, and 94% reported an RRF grant would allow them to retain or rehire staff, according to NRA research. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. The American Rescue Plan Act (ARPA) established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. Both political parties agreed that the RRF should be replenished but couldn't reach a consensus on how to pay for it. Recipients that are unable to use all of the funds received on eligible expenses by the end of the covered period must return any unused funds to the Treasury. Welp, its (almost) official: when Congress takes up the 2022 omnibus spending bill, there wont be any new money for restaurants that are still struggling after years of pandemic-related losses. The Small Business Administration (SBA) began accepting applications and awarding funds in May 2021. WASHINGTON The House passed a $55 billion bill Thursday that would provide assistance to restaurants and other small businesses that have struggled because of the coronavirus pandemic. Publicly Released: Jul 14, 2022. The Restaurant Revitalization Fund covered period begins on February 15, 2020 and ends on March 11, 2023. Restaurant Revitalization Fund What's the impact of the Senate's failure to pass RRF? (Recommendation 5), The Associate Administrator for the Office of Capital Access should develop, document, and implement procedures to use enforcement data on suspected fraud in other SBA programs, such as PPP, to identify potential fraud in RRF recipients. The U.S. Small Business Administration (SBA) is releasing $83 million in leftover Restaurant Revitalization Fund (RRF) aid to restaurateurs who were denied assistance in 2021 because the program burned through most of its $28.6 billion in about three weeks. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. In January 2023, SBA stated that recipients have until March 2023 to exhaust RRF funds. Nearly 300,000 restaurants and bars applied for grants through the program last year, according to the Small Business Administration, but only a third of applicants received relief. Washington, D.C. - The National Restaurant Association today sent a letter to Congressional leadership encouraging passage of Restaurant Revitalization Fund (RRF) Replenishment if the program comes up for a vote this week. Painel do Inscrito. 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The 177,000 restaurants that applied but didn't receive RRF funding represent around 20% of the industry, according to the National Restaurant Association, suggesting another round of restaurant-specific federal grants could improve the industry's recovery. the Senate didnt pass the proposed increase, Easy Tips To Understand How To Properly Read Your Balance Sheet, Restaurant Business & Startup Loans: Complete Guide, Business payroll costs, including health insurance, Payments on any business mortgage obligation (both principal and interest; note: this does not include any prepayment of principal on a mortgage obligation), Business rent payments (note: this does not include prepayment of rent), Business debt service (both principal and interest; note: this does not include any prepayment of principal or interest), Business utility payments, maintenance expenses, Business supplies (including protective equipment and cleaning materials), Covered supplier costs, same definition as under PPP Forgiveness nonpayroll expensesfood purchases, Legal expenses, marketing expenses, insurance expenses, business licenses, shipping fees, equipment (new hood or a new grill, new fryers, etc.). Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. ET, 5 store-level changes driving the Starbucks union, How 6 restaurant giants are hiking menu prices, Starbucks faces corporate employee revolt, Wendys offers franchisees reduced royalty rate, slashes fees on new restaurants, Bonchon to double US presence within 5 years, NRA: One-third of operators predict ghost kitchens will decline, How Retailers Can Embrace New Collaborations with Brands, Reimagining the dine-in experience with technology, How Restaurants Can Turbocharge Loyalty Programs with Payment Data, Starbucks fired a union organizer. The bill would also put $13 billion toward other businesses impacted by the COVID-19 crisis. Hes also encouraged people to stop working from home and head back into their offices in an effort to move forward after two years of absolute chaos and devastation. This program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19. Assessing controls and addressing deficiencies would help SBA better ensure program integrity. Including $85 million for certain border region businesses, such as those in (herewith a geography lesson) the Northwest Angle, which CQ Roll Call explains is a region of Minnesota that is separated from the rest of the state by the Lake of the Woods but shares land borders with Canada, whose strict pandemic protocols injured Americans living in the Angle. LOS ANGELES, CA / ACCESSWIRE / May 2, 2022 / The Restaurant Revitalization Fund (RRF) has promising news that funds may be added, however, are not guaranteed just yet. CPF, documento de identificao ou Cdigo da Conta. According to the SBA, they received more than 278,000 applications by June 30th, 2021, seeking more than $72.2 billion in funding. By December 31, 2021, all Awardees are required to report through this application portal how much of their award has been used against each eligible use category. But with Congress having adjourned for a two-week recess, the bill won't be considered anytime soon in the Senate. By the time it closed in July 2021, the RRF. GAO reviewed SBA documentation, analyzed SBA data on the program's applicants and recipients, and interviewed SBA officials and representatives of industry associations. The SBA will work with the Department of Justice to disburse the money, according to the NRA. Supply chain shortages are still a massive problem for restaurants, and the cost of doing business grows by the day. All of the funds had to be used for valid cases and claims up to March 11, 2023. Most recipients (72 percent) reported they were owned by women, veterans, or members of socially and economically disadvantaged groups. If you are the site owner (or you manage this site), please whitelist your IP or if you think this block is an error please open a support ticket and make sure to include the block details (displayed in the box below), so we can assist you in troubleshooting the issue. The Restaurant Revitalization Fund was established in March 2021 to support eligible entities suffering revenue losses from the COVID-19 pandemic.

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