However, in May, the Senate didn't pass the proposed increase, which was viewed by many as a setback. Cardin's bill, S.4008, would provide $40 billion in additional funding for the Restaurant Revitalization Fund. Priority is to be provided to previous RRF applicants that did not receive an award. National Restaurant Association asks Congress for aid amid omicron A vague, anti-drag bill in Tennessee has bar and restaurant owners worried for their future, By submitting your email, you agree to our, Congress Wont Send Any More Financial Aid to Restaurants Despite Pleas From the Industry, The Weird (and Wired) Truth Behind Whats Really in Coca-Cola, Why Coca-Cola contracts with a chemical company to manufacture cocaine in New Jersey, there was some hope that more money was coming, just about a third of the grant requests that it received because the demand was so great, exhortations from everyone from Tom Colicchio to Elizabeth Warren for Congress to provide aid to restaurants, that ongoing rise in the cost of doing business, Liquid Deaths New Tea Tallboys Are Coming for AriZonas Neck, If You Took the Drag Away, Then Its Just Another Boring Bar, How to Make Misis Iconic Ricotta-Filled Occhi Pasta. 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.". This program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19. The bill would also put $13 billion toward other businesses impacted by the COVID-19 crisis. 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. 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. There had, however, been 278,304 applicants seeking $72 billion. I hear from business owners every day who are having to close their doors and since Congress and the White House couldnt see their way to refill the RRF, hundreds more will face the same fate in the coming weeks.. from 8 AM - 9 PM ET. The American Rescue Plan created the Restaurant Revitalization Fund. The restaurant industry reacts. The SBA will work with the Department of Justice to disburse the money, according to the NRA. Most recipients (72 percent) reported they were owned by women, veterans, or members of socially and economically disadvantaged groups. 1101 W. Mineral Ave. Ste. 3807), which would refill the Restaurant Revitalization Fund with $42 billion,was reintroduced in. And SBA has not proactively used data analytics or information from enforcement entities to identify potentially fraudulent award recipients. 200Littleton, Colorado 80120. The bill would provide $42 billion to replenish the RRF. The SBA is set to award an added $180 million in unspent funds allocated for the Restaurant Revitalization Fund (RRF) back in 2021. In addition to restaurants and bars, eligible businesses include food trucks, bakeries, wineries or breweries and inns. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, A New Normal Takes Hold; Restaurants Focused on Paths to Continued Growth in 2023, DIRECTV for BUSINESS and National Restaurant Association Team-Up to Enhance the Restaurant Experience and Advance Restaurant Workers. Two senators and two congressmen signed a letter Tuesday asking the Small Business Administration to update Congress on its plans to disburse $180 million in unallocated Restaurant Revitalization Fund money. For more information, please check out our Privacy Policy. According to the letter, while the rest of the economy continues to quickly add jobs, restaurant industry job growth in . Stay informed as we add new reports & testimonies. Ninety-six percent of RRFrecipients said the grant made it more likely that their business would survive. 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. SBA to disburse $180M in remaining RRF funds | Restaurant Dive The Small Business Administration (SBA) began accepting applications and awarding funds in May 2021. 11 a 13 de maio de 2022 - Lavras/MG. SBA releases $83M in additional RRF aid 3807), that included $42 billion to replenish the RRF, on April 7. 3807 or, the Relief for Restaurants and other Hard Hit Small Businesses Act of 2022, which would provide about $42 billion to provide fresh funding for the RRF . It is not clear how, when, or to whom these RRF grants will be issued, so do not throw away any correspondence from the SBA because you may be one of the lucky stores to receive an extremely late RRF grant! Updated August 15, 2022 SBA Restaurant Revitalization Fund Grants SBA requires recipients to report annually on fund use, but has taken limited steps to enforce reporting requirements and identify fraudulent or ineligible awards. 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. Press Releases | National Restaurant Association Together with 52 State Associations, we are a network of professional organizations dedicated to serving every restaurant through advocacy, education, and food safety. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Brands like Chipotle, McDonalds and Starbucksarewalking a tightrope charge enough to protect the bottom line without alienating customers. This field is for validation purposes and should be left unchanged. Recipients cannot claim other expenses paid with RRF grant money as nonpayroll costs for purposes of PPP forgiveness. 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. SBA emphasized pre-award controls to detect fraudulent or ineligible applications but has not assessed their effectiveness. Please enter a valid email and try again. This government aide says it knows what voters want. We recommended that SBA do so. The median award was about $126,000. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. Lawmakers approved the measure in a 223-203 vote, with only about a handful of Republicans backing it. Keep reading to learn more about RRF grant updates, eligibility, RRF forgiveness, and more. Lawmakers. So, however, is this: Once government begins to pursue the chimera of ever-more-perfect fairness, it finds actually, it incites more and more factions claiming that justice demands their inclusion in the governments ever-expanding plans for smoothing lifes rough surfaces. For instance, it prevented over 30,000 suspicious applications from receiving awards. LISTEN TO THE QUICK UPDATE PODCAST BELOW! National Restaurant Association Statement on the Release of $83 Million 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. A large chunk of the bill, $42 billion, would replenish the Restaurant Revitalization Fund, a grant program launched as a result of the American Rescue Plan, which President Joe Biden signed into law last year. The wisdom of those measures is debatable; the pain from them is undeniable. SBA disagreed with five recommendations, including to assess pre-award controls and implement a plan to address fraudulent or ineligible awards. Even the Restaurant Revitalization Fund, with its paltry $28.6 billion in initial funding, wasnt enough to meaningfully help most establishments. All rights reserved. Use of Funds Validation is now available for Restaurant Revitalization Fund awardees. The National Restaurant Association is asking Congress to replenish the Restaurant Revitalization Fund as the Covid omicron variant hits operators' businesses. | 2 p.m. Congress is voting on a $42 billion Restaurant Revitalization Fund The U.S. House of Representatives voted yes on a bill Thursday that would provide $42 billion in relief to foodservice businesses that originally applied for the . They have until March 2023 to spend the money. 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. But, then, weapons systems have been purchased because suppliers of components were spread across the country like tapenade on toast. A requirement for annual reporting submissions applies to any applicant who doesnt fully expend RRF grant funds before December 31, 2021. Esqueci minha senha. The age of the Silicon Valley moonshot is over. Nova Inscrio. 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. LOOK What Happened When This Restaurant Posted a Politically Incorrect Sign. 2023 Restaurant Accounting Services Inc. All Rights Reserved. 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. The Small Business Administration (SBA) began accepting applications and awarding funds in May 2021. More than 90,000 restaurants closed permanently or long-term because of the pandemic. Something went wrong. Its an AI bot. After this money was distributed, more than 177,000 applications were left in limbo at the SBA. The Restaurant Revitalization Fund covered period begins on February 15, 2020 and ends on March 11, 2023. "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. Rep. Earl Blumenauer, D-Ore., the main sponsor of the bill, and Rep. Dean Phillips, D-Minn., said Thursday that more than 80 percent of restaurants that didn't receive grants have reported that they are on the verge of permanent closure, citing a survey from the Independent Restaurant Coalition. 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 House already has passed H.R. The government closed restaurants and bars because they were considered particularly apt to endanger the public by spreading the coronavirus, so the public should compensate everyone for losses suffered on the publics behalf. (Recommendation 4), The Associate Administrator for the Office of Capital Access should develop and implement data analytics across RRF awards as a means to detect potentially fraudulent award recipients. This recommendation will remain open until SBA enhances its post-award reporting procedures to require recipients to report their operating status. And it underscores the inevitable inequities that accompany large-scale government interventions in the economy. With so many questions surrounding the RRF, we created this resource and guide to provide answers. Restaurant Revitalization Fund Approaches Final Stand According to the SBA, they received more than 278,000 applications by June 30th, 2021, seeking more than $72.2 billion in funding. This recommendation will remain open until SBA (1) assesses how the design of RRF pre-award controls may have adversely affected applicants from U.S. territories, and (2) documents steps to mitigate this issue for future programs. Even now that the Omicron wave is receding, and more people are going back to restaurants and living their lives normally again, theres no way for these establishments to get back what theyve lost since the shutdowns began in March 2020. If H.R. Do it again, but bigger. 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. Let Restaurant Dive's free newsletter keep you informed, straight from your inbox. But with Congress having adjourned for a two-week recess, the bill won't be considered anytime soon in the Senate. 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. About 43 percent had 2019 revenue of $500,000 or less. RASI will only use your information to contact you about our products and services. 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. This recommendation will remain open until SBA (1) provides documentation of its review, and (2) addresses or mitigates any deficiencies identified. National Restaurant Association Nov 23, 2022, 16:51 ET WASHINGTON, Nov. 23, 2022 /PRNewswire/ -- Today, the Small Business Administration (SBA) announced the release of $83 million dollars in. What are eligible expenses and restrictions that RRF grant recipients should know about? And stop digging. Payroll costs claimed as ERTC eligible wages, Forgivable payroll expenses on the PPP forgiveness application, Nonpayroll expenses claimed on the PPP Forgiveness application. Published May 24, 2022 Thai Phi Le Senior Managing Editor House passes aid for restaurants, small businesses affected by Covid But what about those other small businesses (gyms, minor league baseball, etc.) Restaurant owners have taken on substantial debt and tapped into their own savings accounts, just in an effort to keep the doors open. Congress eventually set aside $28.6 billion dollars for the RRF in the American Rescue Plan Act. Restaurant Revitalization Fund Replenishment Act of 2021 (2022; 117th Supply chain shortages are still a massive problem for restaurants, and the cost of doing business grows by the day. In January 2023, SBA stated that it would offer to participate in a government-wide dialogue to address systemic weaknesses related to IRS and territories' tax validation systems. 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 Operators receiving funds should receive notification today and SBA will begin transmitting the grants next week. Painel do Inscrito | Conference Software The American Rescue Plan created the Restaurant Revitalization Fund. Restaurant Revitalization Fund By June 2021, the funds $28.6 billion had been disbursed to 100,000 applicants in grants averaging $283,000. This deadline had many restaurants wondering who is eligible, when to expect additional RRF updates to the legislation, if any additional RRF forgiveness has been granted, and which anti-fraud mechanisms were put in place to determine which claims are legitimate. Lawmakers ask SBA for disbursement plan for $180M RRF leftovers This recommendation will remain open until SBA provides evidence of using enforcement data (e.g., information on suspicious borrowers provided by the Department of Justice or SBA's Office of Inspector General) on suspected fraud in other SBA programs to identify potential fraud in RRF recipients. 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. All of the funds had to be used for valid cases and claims up to March 11, 2023. Rescuing restaurants (again) ought to give Congress indigestion For more information, visitRestaurant.org and find us on Twitter@WeRRestaurants, Cision Distribution 888-776-0942 The Restaurant Revitalization Fund was established in March 2021 to support eligible entities suffering revenue losses from the COVID-19 pandemic. The first reports were due in December 2021, but 32 percent were overdue as of June 2022. No later than December 31, 2021, all recipients are required to report to the SBA how much of their RRF grant has been used against each eligible use category. Its abundantly clear that the Biden administration considers the pandemic to be basically over. Small businesses of long standing, and families who went into debt to launch, say, restaurants or bars or bakeries just before the pandemic, now have blighted futures the caprice of rotten luck. 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. Assessing controls and addressing deficiencies would help SBA better ensure program integrity. As a result, the U.S. Congress introduced legislation called the Restaurant Revitalization Fund (RRF) to help restaurants get back on their feet. Painel do Inscrito | Conference Software Restaurant Revitalization Fund (RRF) Updates. Apr 7, 2022. When typing in this field, a list of search results will appear and be automatically updated as you type. It is axiomatic that the titles of congressional bills, like the titles of Marx Brothers movies (Duck Soup, Horse Feathers), are not scrupulously informative. 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. (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. In 2020 and 2021, restaurants, bars, and other food service businesses experienced substantial revenue loss and unemployment resulting from the COVID-19 pandemic. 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. H.R.3807 - 117th Congress (2021-2022): Restaurant Revitalization Fund The RRF is actually part of the American Rescue Plan Act (ARPA), which was established in March 2021. Hence the Replenishment Act. Christian Britschgi is dubious. Senate Minority Whip John Thune, R-S.D., splashed cold water on the prospects of the legislation moving forward, comparing it to the stalled Covid relief bill. Oops. ABC News reported on the story, where Anon explained how he was fed up with how sensitive people have gotten . As a restaurant owner, youve most definitely heard about the varying RRF updates throughout the last year, how they could possibly impact your establishment, and more. According to the American Rescue Plan Act of 2021 (ARPA), the amounts received from the SBA in the form of a Restaurant Revitalization Grant shall not be included in gross income (non-taxable); additionally, the expenses incurred are deductible. SBA took steps to detect fraudulent or ineligible applications. Restaurant Industry News and Resources in Georgia. All Applicants that do not fully expend award funds . Copyright 2023 Sawyer Direct LLC | All Rights Reserved.