skip to Main Content
MSJ NEWS see latest news

Attempt to Replenish Restaurant Revitalization Fund with $48 Billion Falters in Senate

  • Effort to add $48 billion to Restaurant Revitalization Fund fails due to objection to pass the legislation by unanimous consent
  • Bill, along with a separate one to replenish the program with $60 billion, goes before committee
  • The SBA received more than 278,000 applications for the program, but was only able to fund about 101,000 of them

Summary by Dirk Langeveld

A bipartisan effort to boost funding for the expired Restaurant Revitalization Fund grant program has faltered after an objection to pass the legislation by unanimous consent.

A group of 10 senators sought to add $48 billion to the RRF, which was unable to support the majority of its applicants due to a lack of funding. The $28.6 billion program, established as part of the American Rescue Plan, provided grants of up to $5 million per location and $10 million per applicant to support restaurants and other food and beverage businesses that suffered major revenue losses during the COVID-19 pandemic.

The U.S. Small Business Administration received more than 278,000 applications, but was only able to fund about 101,000 businesses.

  • The proposed legislation has been submitted to the U.S. Senate Committee on Small Business & Entrepreneurship after the unanimous consent effort failed
  • The Restaurant Revitalization Fund Replenishment Act of 2021, which has been introduced in both the House and Senate, is also in committee; this separate legislation seeks to add $60 billion to the RRF
  • Ben Cardin, chair of the U.S. Senate Committee on Small Business & Entrepreneurship, says food and beverage businesses are still struggling despite the ongoing economic recovery as they cope with debt accrual and other challenges
  • Food and beverage businesses have been leading the jobs recovery in recent months, but the National Restaurant Association says about 110,000 establishments have closed temporarily or permanently; the industry was down about 2.5 million jobs compared to pre-pandemic levels at the end of 2020

Spread the Word

More To Explore

Expert Summaries

Know Your Competitors

By Denis Jakuc 

There are tons of benefits to knowing who your competitors are—what they’re offering, their strengths and weaknesses. That knowledge can help you make your products and services stand out,

Latest News

Join with Free InnovatorsLINK Account

Start accessing all the free member benefits and valuable content on the InnovatorsLINK platform. Create a BizLINK listing to boost brand exposure, receive the weekly Main Street Journal newsletter, engage in forums, get full access to free content, and more.