Congress Considers Replenishment of Exhausted RRF Funds

Ervin Cohen & Jessup LLP
Contact

Ervin Cohen & Jessup LLP

The much anticipated Restaurant Revitalization Fund (RRF) was deluged with applicants. According to Restaurant Dive, more than 362,000 applications were received in the first three weeks of the program for a total of $75 billion in funding. The SBA has since closed its portal to new applicants. The portal website states: “After an overwhelming response to the Restaurant Revitalization Fund, the application portal is now closed for new applications.”

On June 8, 2021, a bipartisan group of Senators and U.S. Representatives introduced the Restaurant Revitalization Fund Replenishment Act of 2021. The legislation would replenish the RRF with a $60 billion second round of restaurant relief.

Additionally, the SBA has had to halt and rescind funds granted through its priority program for economically disadvantaged and women-owned businesses after courts in Texas and Tennessee ruled that prioritization based on gender and race was unconstitutional. More than 2,900 approved RRF applicants received emails from the SBA claiming that the agency could not issue them grants due to the lawsuits.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ervin Cohen & Jessup LLP | Attorney Advertising

Written by:

Ervin Cohen & Jessup LLP
Contact
more
less

Ervin Cohen & Jessup LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.