By every metric, the Restaurant Revitalization Fund (RRF) has been successful. The program was set up quickly, and it launched on May 3 without any major setbacks. Award money already started arriving in some applicants’ bank accounts within a week of their applying. But with 266,000 operators applying for $65 billion in relief within its first eight days, the RRF will leave hundreds of thousands of restaurants, bars, food trucks, and everything in between waiting for desperately needed help.
In fact, the RRF is expected to be exhausted before the end of the 21-priority period for women, veterans, and socially and economically disadvantaged business owners. On May 12 Isabella Casillas Guzman, the head of the U.S. Small Business Administration, announced that 147,000 priority applications had already requested a total of $29 billion in relief, more than the $28.6 billion in the fund.
The National Restaurant Association is now calling on the industry and its supporters to urge policymakers in Washington – from the White House to Capitol Hill – to pursue creative ways to replenish the RRF and to ensure that it maximizes relief for small independent and franchise restaurant operators. Americans want their favorite restaurants to survive the pandemic, and the federal government can play a key role in making that possible.
Ask Congress to approve additional funding for the RRF by signing the petition here or by texting “MORERELIEF” to 52886.
FYI: As of May 17, the SBA still has potential funding available for eligible establishments with 2019 annual revenue of not more than $50,000. Because of this, it will keep the application portal open. Eligible establishments that meet this revenue standard are encouraged to apply through SBA-recognized point-of-sale vendors or directly via the SBA online application portal. Use the resources on our Restaurant Revitalization Fund toolkit to prepare your application.