Description

Oh, how we hardly knew ye Restaurant Revitalization Fund.

After serving just 105,000 restaurant operators over less than a single month, the RRF is officially being shut down by the SBA. Despite having a total of $26.8 billion in funding, the RRF flew through its allotted amount of money quickly. With lawsuits alleging discrimination and the rescinding of thousands of grants, some are viewing the RRF as a complete failure.

On this episode of the Happy Mouth podcast, restaurateur Philip Camino and chef Nyesha Arrington take a look back at the RRF and its pending shutdown. Nyesha and Philip also discuss if the RRF was a failure and what should have been done differently.

Listen to Philip and Nyesha discuss the RRF ending:

• The RRF opened for applications on May 3, 2021, receiving more than 186,000 applicants in the first two days
  
• The RRF had been funded with $28.6 billion, with $5 billion earmarked for small businesses -- Which ran out in just 21 days
  
• Women, veterans, and those who are socially and economically disadvantaged received priority
  
• That priority treatment spurred several lawsuits against the Small Business Association (SBA), including one that was successful
  
• The SBA has rescinded almost 3,000 awards from those prioritized individuals
  
• A bill was introduced in the Senate to refill the fund with a proposed $60 billion, though it’s struggling to find bipartisan support
  
• The SBA has announced they’ll disable the RRF portal on July 14, meaning they’ll no longer accept applications
  
• The SBA awarded money to 105,000 restaurant operators before funds ran out, though 265,000 applications didn’t receive any money
  
  

Links:

Happy Mouth Podcast Instagram

Restaurant Business - SBA pulls the plug on the Restaurant Revitalization Fund

Restaurant Business - SBA stops Restaurant Revitalization Fund payments after courts rule they’re discriminatory

Independent Restaurant Coalition - Contact Congress

Deeper Dive podcast - Is there any hope for the Restaurant Revitalization Fund?

We have a lot more content coming your way! Be sure to check out our other shows:

Full Comp 

The Happy Mouth Morning Show

Restaurant Marketing School

The Playbook