The Restaurant Revitalization Fund (RRF), a $28 billion relief program, was implemented in spring 2021 to help the struggling independent restaurant industry offset losses from COVID-19.
More than 100,000 applicants received funding, with the average grant coming in at $283,000. The window was short-lived (as expected) due to high demand. More than $43 billion in requests were unable to be fulfilled.
Shortly thereafter, the Restaurant Revitalization Fund Replenishment Act of 2021 was introduced in the House and Senate, seeking $60 billion to fill the gap. While there have been flashes of attention since the summer and similar efforts (like the ENTRÉE Act or dropping the total to $48 billion with a bipartisan push), the legislation has not gained traction.
In January, the National Restaurant Association pushed the effort anew. It estimates that future grants awarded after a full replenishment of the Restaurant Revitalization Fund will potentially save more than 1.6 million restaurant jobs at risk. If you want to add your voice of support, you can do so.
Just remember you are not alone as a restaurant owner in your struggle to juggle the challenges of this pandemic! Fill out this form less than a minute to get started with no-cost, confidential consulting.
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