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. "We hear from restaurants and bars owners each day who applied for a grant and never received one. This field is for validation purposes and should be left unchanged. However, for expensesses incurred on February 15, 2020 or after, be careful not to use the following: So long as funds are utilized for eligible applications no later than March 11, 2023, there is no requirement for recipients to repay the funding. H.R. Lawmakers approved the measure in a 223-203 vote, with only about a handful of Republicans backing it. Restaurant Revitalization Fund (RRF) Updates. The CARES Act includes a provision for GAO to monitor federal efforts to respond to the COVID-19 pandemic. Restaurant Revitalization Fund What's the impact of the Senate's failure to pass RRF? Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Congress Won't Send Any More Financial Aid to Restaurants - Eater Well, then, what about that will-o-the-wisp, fairness? After this money was distributed, more than 177,000 applications were left in limbo at the SBA. Published: Jul 14, 2022. GAO makes seven recommendations to SBA, including to assess pre-award controls and address deficiencies, strengthen post-award reporting, take additional steps to identify fraudulent or ineligible awards, and develop and implement a plan to address potentially fraudulent award recipients in a timely manner. According to the SBA, the RRF provided $28.6 billion to more than 100,000 restaurants, bars, and other businesses that provide on-site food and drink. House, Senate introduce bills adding $40B to RRF | Restaurant Dive 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. And stop digging. 11 a 13 de maio de 2022 - Lavras/MG. Both political parties agreed that the RRF should be replenished but couldn't reach a consensus on how to pay for it. The U.S. House and Senate passed a bill, S.4008, which would've added $40 billion to the plan - a significant increase over the approximate $29 billion originally proposed in the RRF. This is not an infusion of funds into the RRF currently; in fact, a new law was introduced and passed by the House of Representatives to replenish the RRF with more than $40 billion, but it did not pass the Senate (See June 2022 update below). The median award was about $126,000. Today's announcement is great news for those 169 operators fortunate enough to receive an RRF grant, but hundreds of thousands more are struggling with uncertainty. Its abundantly clear that the Biden administration considers the pandemic to be basically over. This news doesnt exactly come as a surprise, but earlier this year, there was some hope that more money was coming. The SBA, which had $83 million in unobligated RFF money worked with the advice of the Department of Justice to begin distributing the remaining funds to 169 restaurant operators with pending RRF applications. According to the SBA, they received more than 278,000 applications by June 30th, 2021, seeking more than $72.2 billion in funding. 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. 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. In January 2023, SBA stated that it follows standard operating procedures to refer suspicious activity to the OIG. "This should be the driving factor in bipartisan support for replenishing the RRF. The act illustrates a timeless truth legislative bargaining is additive. The Relief for Restaurants and Other Hard Hit Small Businesses Act of 2022 (H.R. They said at least 90,000 restaurants and bars have closed since the pandemic started more than two years ago. Rebecca Shabad is a politics reporter for NBC News based in Washington. Realizar Login. Writing for Reason, he noted six weeks ago that Open Table, the reservation app, shows that close to 95 percent of restaurants open in 2019 are back to accepting reservations. As a recap, the Restaurant Revitalization Fund was created to give restaurants and other hospitality-related businesses the financial assistance that they need to get through this world-wide pandemic.To ensure all types of restaurant owners receive funding, including smaller establishments and minority . This recommendation will remain open until SBA develops and implements policies and procedures for addressing RRF award recipients who do not meet annual reporting requirements. 3807), which would refill the Restaurant Revitalization Fund with $42 billion, was reintroduced in a Rules Committee meeting in the House of Representatives on Tuesday. 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. Its an AI bot. Restaurant Revitalization Fund (RRF) Updates - August 2022 97 views Aug 29, 2022 0 Dislike Share RASI - Restaurant Accounting Services Inc 494 subscribers The SBA is set to award an. There comes a point where the right policy is: Stop smoothing. Will an injustice be done if, with the pandemic receding and the economy reviving, nothing is done for those who missed out in the first-come-first-served scramble for the initial (and perhaps final) $28 billion? www.arffinancial.com/updates-to-the-restaurant-revitalization-fund/, Mozilla/5.0 (Windows NT 10.0; Win64; x64) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/103.0.0.0 Safari/537.36. 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. Number of Restaurant Revitalization Fund Applications by Eligibility and Funding Status. About 43 percent had 2019 revenue of $500,000 or less. 3807), that included $42 billion to replenish the RRF, on April 7. It's unclear whether Democrats in the evenly split Senate will be able to win over at least 10 Republicans to overcome the 60-vote threshold to end any potential filibuster and pass the measure. Among its objectives, this report examines recipient characteristics, SBA's internal controls and fraud risk management practices, and SBA's efforts to monitor recipients. SBA stated that the agency will review a sample of RRF awards and use the results of this review to inform the effectiveness of its post-award procedures. Joanna Fantozzi | Apr 06, 2022. Past-due expenses qualify as RRF expenses. Until these funds were used up, they were available for eligible entrepreneurs, establishments, and corporations. The Restaurant Revitalization Fund was established in March 2021 to support eligible entities suffering revenue losses from the COVID-19 pandemic. Six weeks ago six weeks of economic recovery ago Britschgi noted that in general, there are more small businesses open today than existed before the pandemic. And almost all government-dictated restrictions on commerce have ended. 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. 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. But, then, weapons systems have been purchased because suppliers of components were spread across the country like tapenade on toast. Back in January, a Biden administration official said pretty plainly that the president had no plans to support a new comprehensive stimulus for all Americans, but did hint that there might be something small for restaurants on the way. To amend the American Rescue Plan Act of 2021 to increase appropriations to the Restaurant Revitalization Fund, and for other purposes. By June 2021, the fund's $28.6 billion had been disbursed to 100,000 applicants in grants averaging $283,000. CEO of Berryhill Baja Grill restaurants in Houston, Jeff Anon, decided to take matters into his own hands in regards to declaring his right to free speech. There had, however, been 278,304 applicants seeking $72 billion. (Recommendation 3), The Associate Administrator for the Office of Capital Access should enhance RRF post-award reporting procedures by adding requirements for recipients to report their operating status. Something went wrong. But it flagged 4,000 award recipients for suspected fraud and isn't taking timely action to address them. Access from your Country was disabled by the administrator. However, in May, the Senate didn't pass the proposed increase, which was viewed by many as a setback. The SBA has contacted recipients of the awards. Restaurant owners plead for Congresss help after omicron surge. The sector still has myriad challenges ahead, but a glimmer of hope as Congress is expected to vote on further aid on May 19a $48 billion bill that would fully fund the Restaurant Revitalization Fund. Or 28,399 closures. The freshest news from the food world every day. The bill is co-sponsored by Sen. Roger Wicker (R-MS) and includes additional funds for gyms, live venues and transit systems, among other business categories. Make Your Nomination for Restaurant Informers 2023, Lapeer Steak and Seafood Lands New Executive Chef McAlpine, Payback Time: What To Do About Your PPP or EIDL Loan, Georgia Hospitality Expo & ProStart Invitational 2023.