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</html>";s:4:"text";s:12169:"Amounts received from the Restaurant Revitalization Grant are tax … This portal will help you calculate your eligible award amount, monitor status, and interact with the SBA. SBA unveils initial Restaurant Revitalization Fund results. Applicants who have submitted a non-priority application will find their applications remain in a Review status while the priority applications are processed during the first 21 days. On April 17, the U.S. Small Business Administration (SBA) issued the necessary federal rules, regulations, and a sample application to distribute the grant funds. May 12, 2021. By Jeff Drew. WASHINGTON – Today, the U.S. Small Business Administration will begin delivering economic relief from the Restaurant Revitalization Fund, established by the American Rescue Plan and signed into law by President Joe Biden, to more than 16,000 approved applicants. In addition to the priority group filing period, the SBA has set aside a portion of the total Restaurant Revitalization Fund of $28.6 billion for specific small businesses to ensure relief is available and provided to them, regardless of priority group status. SBA Restaurant Revitalization Fund Webinar Q&A How long will I have to wait to find out if my application is being funded? A Sixth Circuit court panel ruled on May 28 that the Small Business Administration’s prioritization of Restaurant Revitalization Fund grants on … WASHINGTON – Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, announced May 12 the latest application data results for the $28.6 billion Restaurant Revitalization Fund, passed as part of the American Rescue Plan, and signed into law by President Joe Biden. Can we apply on day 1, minute 1 when the application portal opens, even if we aren't a woman, veteran or minority owned businesses? Restaurants may have to wait for $29B in new federal aid. The $28.6 billion Restaurant Revitalization Fund (RRF) opened for business on May 3, and in its first 36 hours 186,200 restaurants, bars and other eligible businesses applied to receive assistance. The government-operated Small Business Administration agency is solely responsible for issuing grants from the fund. The SBA will now process the funding of this award directly to your Bank account within 3 … The Restaurant Revitalization Fund will offer $28.6 billion in grants to hard-hit restaurants and bars, with restaurants able to apply for grants based on lost revenue. During this time it may move forward to Under Review and move back to IRS verification. May 6, 2021. “Restaurant Revitalization Fund This program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19. Congress’s Restaurant Revitalization Fund Is Already Running Out of Money. Select this option to begin the application process for a Restaurant Revitalization Award. However, the grant program is already running out of money. WASHINGTON – Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, today is announcing the latest application data results for the $28.6 billion Restaurant Revitalization Fund (RRF), passed as part of the American Rescue Plan, and signed into law by President Joe Biden.The RRF has received more than 147,000 applications from women, veterans, … This frequently asked questions (FAQ) resource What entities are eligible for Restaurant Revitalization Fund Grants (RRFG)? 19h ago @Syracuse1848 tweeted: "The #RestaurantRevitalizationFund will p.." - read what others are saying and join the conversation. On May 6, 2021. The white, male owner of a Tennessee restaurant has finally received grant money from the Restaurant Revitalization Fund, but it hasn't been easy. For Restaurant and Food Service Businesses that are owned by people of color, women or veterans, the best time to apply for the Restaurant Revitalization Fund is now. The $29 billion fund already has 186,200 applicants in just two days. By Peter Romeo on Mar. Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, is announcing the latest application data results for the $28.6 billion Restaurant Revitalization Fund (RRF), passed as part of the American Rescue Plan, and signed into law by President Joe Biden.The RRF has received more than 147,000 applications from women, veterans, and socially and … We are pleased to inform you that because of the American Rescue Plan, signed into law by President Joe Biden, your SBA Restaurant Revitalization Fund application has been approved. Program details. About half the requests have come from operators believed to be most in need, the White House says. More than 186,000 restaurants, bars, and other food and beverage businesses applied for assistance from the $28.6 billion Restaurant Revitalization Fund (RRF) during the first two days after the program’s application window opened May 3. The Small Business Administration’s (SBA) $28.6 billion Restaurant Revitalization Fund is part of the recently passed American Rescue Plan Act and is designed to provide federal aid to restaurants and bars that experienced pandemic-related revenue loss due to forced closures and crowd size restrictions.. Restaurant Revitalization Fund to provide grants for restaurants sustaining financial losses due to the COVID-19 pandemic. The grant program aims to make restaurants whole for revenue losses incurred … The review team will reach out if … The SBA relief fund earmarked $28.6 billion for struggling restaurants. Greetings from the Restaurant Revitalization Fund We are pleased to inform you that because of the American Rescue Plan, signed into law by President Joe Biden, your SBA Restaurant Revitalization Fund application has been approved. The status of an application may take 8-10 days to complete the IRS verification. Antonio Vitolo owns Jake's Bar … 7,480,235. The fund will go quick. Restaurant Revitalization Fund Update: What to Expect Next. If the grant exceeds that loss, the remaining funds must be returned to the Treasury. Photograph: Shutterstock. Restaurant Revitalization Grants must be equal to the pandemic-related revenue loss of the entity. The American Rescue Plan Act (ARPA) was signed into law on March 11, 2021, and authorized, among other things, up to $28.6 billion in RRF grants. #RRF #restaurantbusiness” The lawsuit targets the three-week period from May 3 until Monday during which the $28.6 billion Restaurant Revitalization Fund has only been … ... Women, minorities, and veterans were given priority application status. On March 11, the American Rescue Plan Act of 2021 created the $28.6 billion Restaurant Revitalization Fund to provide grants for restaurants sustaining financial losses due to … The Restaurant Revitalization Fund has already received a lot of applications. Joanna Fantozzi | May 04, 2021. It includes a list of documents you should have available and tips on how and when the funds can be spent. By Jeff Drew. Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration, announced May 12 the latest application data results for the $28.6 billion Restaurant Revitalization Fund (RRF), passed as part of the American Rescue Plan, and signed into law by President Joe Biden.The RRF has received more than 147,000 applications from women, veterans, and socially and … Thanks to your advocacy efforts, in early 2021, Congress took action and created the Restaurant Revitalization Fund (RRF), a $28.6 billion grant program targeted at small restaurants. • Caterer. The grants will come from the Restaurant Revitalization Fund — the $28.6 billion fund that’s part of the broader $1.9 trillion American Rescue Plan Act that passed through the government in March 2021. Congressman Jim Hagedorn (MN-01) led his Republican colleagues on the House Small Business Committee, including Ranking Member Blaine Luetkemeyer (MO-03), in sending a letter to the U.S. Small Business Administrator (SBA) Isabella Casillas Guzman responding to the SBA’s May 18, 2021, publication announcing the preemptive closure of the Restaurant Revitalization Fund Portal … Abstract: Small Business Administration will collect the information from small businesses and non-profits organizations that are eligible to apply for the Restaurant Revitalization Fund Grant Program as authorized by section 324 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Pub L. 116-260). The American Rescue Plan Act authorized and allocated $28.6 billion to the Restaurant Revitalization Fund program. The suit targets the three-week period from May 3 until May 24 during which the $28.6 billion Restaurant Revitalization Fund has been processing … Register to Start Your Application. The SBA has already received requests for $8.14 billion from businesses with under $500,000 in revenues (far surpassing the $5 billion set aside for this group) Joanna Fantozzi | May 12, 2021. Here’s what it’s like to apply for a Restaurant Revitalization Fund grant. Monies from this fund are to be … However, the Restaurant Revitalization Fund (RRF) is the first federal relief specifically designed for restaurants. Restaurant Revitalization Fund: What to Expect Next. By Peter Romeo on May 05, 2021. Administrators of the Restaurant Revitalization Fund are shooting for a one-month ramp up, but can't say when they'll begin distributing grants.  His pessimism regarding federal assistance stems from the fact that hundreds of thousands of restaurant owners are competing for aid from the $28.6 billion Restaurant Revitalization Fund… By Lauren Contino. 0. The Mysterious Requirements of the SBA Restaurant Revitalization Fund (SBA RRF) Jenna Inouye. The Restaurant Revitalization Fund (RRF), part of the American Rescue Plan that congresses passed in March this year, is a grant program that was thought to be a lifeline for restaurants that have been struggling during the pandemic. • Snack and Nonalcoholic Beverage Bar. But this wasn’t verified, so it didn’t matter; people applied as they desired. “The Biden Administration’s actions on the Restaurant Revitalization Fund are biased and discriminatory. Register and Apply through the SBA. The Restaurant Revitalization Fund applications have already far surpassed available funds. Applications submitted will be turned around in 14 days if done through POS or SBA online application. Further, he raised questions as to why the SBA has given preference to owners with an undocumented or unknown immigration status. Less than 10 days after its launch, the Restaurant Revitalization Fund (RRF) has less than half the money it needs to fund a flood of relief requests from one of the sectors of the economy hardest hit by the COVID-19 pandemic. This is normal and you do not need to contact the SBA or provide any additional info. 25, 2021. — Getty Images/Volodymyr Rozumii This story was updated on 5/24/21. “The Restaurant Revitalization Fund will impact restaurants differently state to state and location to location,” said Moeller. The Restaurant Revitalization Fund Replenishment Act, proposed with bipartisan support in Congress, would provide a boost for thousands of food-service businesses. Dina Samson, owner of Rossoblu and Superfine pizza in Los Angeles spoke about applying for the RRF grant as a small business owner and woman of color. “Cities like New York City and Los Angeles, where there were extended lock downs, will see the greatest benefit since their revenue was down significantly in 2020 vs. 2019. Status Update: Restaurant Revitalization Fund (RRF) Presented By: the Small Business Development Center of Virginia Presenter: Mike Austin, Access to Capital Adviser Entities that own a place of business where the public or patrons assemble for the primary purpose of being served food or drink, including a: • Restaurant, Food Stand, Food Truck, Food Cart. The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. 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