The American Rescue Plan Act passed in March 2021 established the Restaurant Revitalization Fund (“RRF”) to provide funding to restaurants and other eligible businesses. Scotto & Melchiorre Group LLC. April 30, 2021. The Small Business Administration is fleshing out details of its $28.6 billion Restaurant Revitalization Fund ahead of what it said would be a late April launch — … What is the Restaurant Revitalization Fund? March 25, 2021. The U.S. Small Business Administration (SBA) is awarding funding through the Restaurant Revitalization Program to restaurants, bars, and other similar places of business that serve food or drink. The following is information provided by the Small Business Administration (SBA): Program details The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and … On Saturday afternoon, April 17, the U.S. Small Business Administration (SBA) posted to its website a program guide, knowledge base, and application form (Form 3172) for the Restaurant Revitalization Fund (RRF) program that was authorized under the American Rescue Plan Act (ARPA). Eligible entities should apply as soon as applications become available in order to … April 30, 2021. The Small Business Administration (SBA) has announced that registration for the SBA application portal for Restaurant Revitalization Fund (RRF) grants will begin on Friday, April 30, 2021, at 9 am ET and that the application period will officially open on Monday, May 3, 2021, at noon ET. The Restaurant Revitalization Fund Replenishment Act, proposed with bipartisan support in Congress, would provide a boost for thousands of food-service businesses. The $28 billion relief measure made possible by the American Rescue Plan 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. This new SBA Grant for Restaurants will provide up to $10 million dollars in Covid-19 financial help for small businesses that are in the foodservice industry. By now, you’re probably well aware that the American Rescue Plan Act of 2021 has been passed. National Restaurant Association Statement on the Restaurant Revitalization Fund Replenishment Act of 2021. This program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19. Other Resources: While only $2.1 billion has been distributed, Congress only funded it to $28 billion. How to apply. Greer seeks monetary relief under the $28.6-billion Restaurant Revitalization Fund ("RRF") created by the American Rescue Plan Act of 2021 ("ARPA") and … The American Rescue Plan Act, which was passed in March, included the Restaurant Revitalization Fund — $28.6 billion in grants for restaurants, food … While the RRF is … In our blog post on the small business support included in the American Rescue Plan, it was clear that the Restaurant Revitalization Fund (RRF) will be a key opportunity for … Don’t be so sure. It led him to a page that said, in essence, that the Restaurant Revitalization Fund would not be the lifeline he had hoped for. 2. Do you qualify for COVID-19 relief from the Restaurant Revitalization Fund? The recent American Rescue Plan Act included significant financial support targeted directly at restaurants and other food establishments affected by the pandemic. Find out if your business is eligible. → Uncategorized → Restaurant Revitalization Fund 2021. Restaurant Revitalization Fund and Grants Along with small and medium enterprises, the restaurant industry has also been severely impacted by the pandemic. The passage of the American Rescue Plan Act of 2021 set aside nearly $30 billion in funds to create the Restaurant Revitalization Fund (RRF). However, the $28.6 billion in funding could leave many owners without any disaster relief. ... Jun 7, 2021, 04:21pm EDT. The SBA has a new targeted grant program for restaurants and bars. This is a $28.6 billion grant program to keep restaurants afloat and to recover from the financial hardship of the past year. SBA stops Restaurant Revitalization Fund payments after courts rule they're discriminatory Nearly 3,000 approved applicants, all women and people in groups deemed most in need, were told they wouldn't get their funds following legal challenges to the selection process. Starting today, Friday, April 30, 2021, business owners can begin registering for the SBA’s Restaurant Revitalization Fund program. The Restaurant Revitalization Fund is part of the American Rescue Plan, that was signed into law on March 11, 2021. Introduction . Restaurant Revitalization Fund This program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19. This new SBA Grant for Restaurants will provide up to $10 million dollars in Covid-19 financial help for small businesses that are in the foodservice industry. The pause in disbursement prevents more than 2,900 of those businesses from receiving COVID relief funds allocated in the Restaurant Revitalization Fund, according to Reuters. A Sixth Circuit court panel ruled on May 28 that the Small Business Administration’s prioritization of Restaurant Revitalization Fund grants on … Please check the SBA Coronavirus Relief Funding Page for the most up to date information as it is released. The Restaurant Revitalization Fund , part of the American Rescue Plan Act, will provide $28.6 billion in … The U.S. Small Business Administration (SBA) is targeting early April to launch a phased rollout of the $28.6 billion Restaurant Revitalization Fund (RRF), a senior SBA official testified during a Senate Small Business Committee hearing. With the launch of the Restaurant Revitalization Fund, we’re prioritizing funding to the hardest-hit small businesses." Throughout the pandemic, restaurants have struggled to access financial support from the federal government, so when the American Rescue Plan stimulus bill, which was signed into law in … Restaurant Revitalization Fund registration starts today for new COVID-19 relief funds. In response to this economic hardship experienced by the restaurant industry, the U.S. Small Business Association (SBA), in accordance with the American Rescue Plan Act of 2021, created the Restaurant Revitalization Fund. 1319). Since the food and beverage industry has been devastated by this past year from the COVID-19 pandemic, these grants aim to bring much needed funds and relief to the restaurants and bars still in operation or those new in business. Registration for the application will begin Friday, April 30, 2021 at 9:00AM ET and applications will officially open on Monday, May 3, 2021 at 12:00PM ET. The Restaurant Revitalization Fund, which was created last month by the $1.9 trillion American Rescue Plan, will offer grants of up to $10 million to … The Restaurant Revitalization Fund Replenishment Act of 2021 would more than double the original $28.6 billion of relief for restaurants and was introduced as …
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