Welp, its (almost) official: when Congress takes up the 2022 omnibus spending bill, there wont be any new money for restaurants that are still struggling after years of pandemic-related losses. The Relief for Restaurants and Other Hard Hit Small Businesses Act of 2022 (H.R. ), buses and ferries, etc. SBA emphasized pre-award controls to detect fraudulent or ineligible applications but has not assessed their effectiveness. 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. Less than 10 days after the SBA launched the RRF Portal, the applications submitted equated to more than twice the amount of funds available. Lawmakers approved the measure in a 223-203 vote, with only about a handful of Republicans backing it. 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Follow. 3807 passes the House and then the Senate, it would be a massive victory for restaurants that are struggling to shake the effects of past dining room restrictions as they navigate supply chain shortages, surging inflation and a historic labor shortfall. This plan should include coordinating with the OIG to align efforts to address fraud. But what about those other small businesses (gyms, minor league baseball, etc.) Including $85 million for certain border region businesses, such as those in (herewith a geography lesson) the Northwest Angle, which CQ Roll Call explains is a region of Minnesota that is separated from the rest of the state by the Lake of the Woods but shares land borders with Canada, whose strict pandemic protocols injured Americans living in the Angle. When typing in this field, a list of search results will appear and be automatically updated as you type. Dont do that. (Recommendation 1), The Associate Administrator for the Office of Capital Access should assess how the design of RRF pre-award controls may have adversely affected applicants from U.S. territories, and identify and document steps to mitigate this issue for future programs. Let Restaurant Dive's free newsletter keep you informed, straight from your inbox. 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. Roger Wicker (R-MS) and Kyrsten Sinema (D-AZ), signed the letter . The restaurant industry was the hardest hit by the pandemic. This field is for validation purposes and should be left unchanged. Oops. 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. In January 2023, SBA stated that it would conduct a review of RRF awards and use the results to inform the effectiveness of pre-award controls. Recipients cannot claim other expenses paid with RRF grant money as nonpayroll costs for purposes of PPP forgiveness. The SBA is set to award an added $180 million in unspent funds allocated for the Restaurant Revitalization Fund (RRF) back in 2021. Are there any reporting requirements for RRF grant recipients? Forty-three Senate Republicans, objecting to the fact that only a smidgen of the Senate bills cost would be offset by economies elsewhere, on May 19 prevented there being 60 votes to proceed with it. Published: Jul 14, 2022. This recommendation will remain open until SBA develops and implements a plan to respond to potentially fraudulent and ineligible awards in a prompt manner. The SBA closed the program and stopped accepting applications on July 2nd, 2021. And it underscores the inevitable inequities that accompany large-scale government interventions in the economy. According to reporting from CNNs Manu Raju, Senate small business and entrepreneurship committee chairman Ben Cardin said on Tuesday, March 8 that Republican opposition means that the Restaurant Revitalization Fund (RRF) will not be replenished. Restaurant Revitalization Fund Award Disbursements, May 3July 1, 2021. from 8 AM - 9 PM ET. It's unclear whether Democrats in the evenly split Senate will be able to win over at least 10 Republicans to overcome the 60-vote threshold to end any potential filibuster and pass the measure. 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 more information, please check out our Privacy Policy. 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. 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. Outdoor diners at the Bit and Spur Saloon in Springdale, Utah, in summer 2020. In January 2023, SBA stated that it follows standard operating procedures to refer suspicious activity to the OIG. But it flagged 4,000 award recipients for suspected fraud and isn't taking timely action to address them. Copyright 1999 2023 GoDaddy Operating Company, LLC. There had, however, been 278,304 applicants seeking $72 billion. 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. After this money was distributed, more than 177,000 applications were left in limbo at the SBA. Supply chain shortages are still a massive problem for restaurants, and the cost of doing business grows by the day. 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. Washington, D.C. - The National Restaurant Association today sent a letter to Congressional leadership encouraging passage of Restaurant Revitalization Fund (RRF) Replenishment if the program comes up for a vote this week. On Nov. 23, the U.S. Small Business Administration (SBA) released a statement about the current state of the Restaurant Revitalization Fund (RFF), which helped more than 100,000 restaurants and food and beverage business owners during the pandemic. Keep reading to learn more about RRF grant updates, eligibility, RRF forgiveness, and more. 3807), which would refill the Restaurant Revitalization Fund with $42 billion,was reintroduced in. 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. SBA does not immediately investigate all potentially fraudulent awards, and instead waits for recipients to submit final reports (which might not be until April 30, 2023). 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. Nova Inscrio. The Small Business Administration confirmed it will distribute $180 million in unspent money allocated for the Restaurant Revitalization Fund as awards, the National Restaurant Association said in an email to Restaurant Dive. Reps. Brian Fitzpatrick (R, PA) and Earl Blumenauer (D, OR), and Sens. This recommendation will remain open until SBA enhances its post-award reporting procedures to require recipients to report their operating status. 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. This is not an infusion of funds into the RRF currently; in. Christian Britschgi is dubious. And SBA has not proactively used data analytics or information from enforcement entities to identify potentially fraudulent award recipients. After congress walked away from the funds replenishment in March 2022 and the Senate failed to pass the replenishment in May 2022, 177,000 establishments were left without aid. GAO reviewed SBA documentation, analyzed SBA data on the program's applicants and recipients, and interviewed SBA officials and representatives of industry associations. But, then, weapons systems have been purchased because suppliers of components were spread across the country like tapenade on toast. Well, then, what about that will-o-the-wisp, fairness? Last year, lawmakers created. And by the third quarter of 2021, Britschgi writes, the number of restaurants had surpassed pre-pandemic levels.. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. 1101 W. Mineral Ave. Ste. U.S. Small Business Administration RRF Award Portal, Restaurant Revitalization Funding Program. Esqueci minha senha. The Association was first to lay out the plan for a restaurant industry recovery fund to Congress in April 2020. However, in May, the Senate didnt pass the proposed increase, which was viewed by many as a setback. IE 11 is not supported. By December 31, 2021, all Awardees are required to report through this application portal how much of their award has been used against each eligible use category. 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. Congress can talk about refilling the Restaurant Revitalization Fund, but it can never be full enough to service all factions who can claim, with some plausibility, that they experienced unfairness not easily distinguished from that suffered by factions who benefited from the first $28 billion. The SBA has contacted recipients of the awards. The legislation would also provide $13 billion for other businesses affected by the pandemic, and it would establish oversight and reporting requirements to ensure grants are awarded properly and to verify the use of funding. In January 2023, SBA stated that it was weighing potential solutions, such as adding functionality in the RRF platform to allow recipients to report their operating status.
Actions to satisfy the intent of the recommendation have not been taken or are being planned.
, Executive Candidate Assessment and Development Program, Business Regulation and Consumer Protection, The Associate Administrator for the Office of Capital Access should conduct and document an assessment of the RRF pre-award controls and address or mitigate deficiencies. About 40% of eligible applicants received awards from the resulting Restaurant Revitalization Fund before it was depleted. Get the free daily newsletter read by industry experts. We recommended that SBA do so. They are on the verge of closing permanently as a result.". As such, well continue to see the consequences of that failure in the coming months. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. The RRF is actually part of the American Rescue Plan Act (ARPA), which was established in March 2021. (Recommendation 7), Restaurant Revitalization Fund: Opportunities Exist to Improve Oversight. "We must continue to look forward because the enormous challenges of the industry will continue beyond today. 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. However, in May, the Senate didn't pass the proposed increase, which was viewed by many as a setback. (Recommendation 6), The Associate Administrator for the Office of Capital Access should develop and implement a plan to respond to potentially fraudulent and ineligible RRF awards in a prompt and consistent manner. According to the SBA, they received more than 278,000 applications by June 30th, 2021, seeking more than $72.2 billion in funding. The wisdom of those measures is debatable; the pain from them is undeniable. Consider the House-passed, $55 billion Restaurant Revitalization Fund Replenishment Act, which could be the No Faction Left Behind Act.. All of the funds had to be used for valid cases and claims up to March 11, 2023. Number of Restaurant Revitalization Fund Applications by Eligibility and Funding Status. Past-due expenses qualify as RRF expenses. This is not an infusion of funds into the RRF currently; in fact, a new law was introduced and passed by the House of Representatives to replenish the RRF with more than $40 billion, but it did not pass the Senate (See June 2022 update below).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!As we learn more from the Small Business Administration (SBA) about the Restaurant Revitalization Fund (RRF) and any updates surrounding it, we will continue to make updates on the blog post and right here on The Tip Share!Read the full Blog Post: https://rasiusa.com/blog/restaurant-revitalization-fund-updates/Listen to the full Podcast Episode: https://anchor.fm/the-tip-share/episodes/Restaurant-Revitalization-Fund-RRF-Updates---August-2022-e1mtkjl/a-a8e5o0oSocial Handles: RASI Instagram: https://www.instagram.com/rasinc__/RASI Twitter: https://twitter.com/RASInc_RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesIncRASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi Chapters:00:00 Intro00:15 $180 Million in RRF Unspent Funds - August 2022 Update00:48 What's next for the Restaurant Revitalization Fund in 2022 and into 2023?#RASI #FocusOnFoodNotFinances#restaurantaccounting #restaurantaccountingservices #restaurantaccountingsoftware #restaurantpurchasing #restaurantpurchasingprogram #restaurantbudgets #restaurantbudgeting #foodcosting #menuengineering #restaurantoperations #restaurantpayroll #restaurantHR #restaurantcompliance #restaurantconsulting #restaurantinventorymanagement #openingarestaurant #restaurantstartup
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