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How Successful Was the Restaurant Revitalization Fund?

7/19/2021

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In my opinion it's a pretty big failure considering that only 36.3% of applications were funded, and only 39.6% of the funds requested making it to those who needed it most.
Blog Link: â€‹https://ramlcpa.link/rrf217
  • During the first 21 Days priority was given to eligible small businesses owned by women,  veterans, and socially and economically disadvantaged small businesses.
  • Approximately 147,000 applicants from the priority group applied for more than the initial $28.6 billion in the RRF.
  • An additional $60 billion for the RRF but it has not yet become law and was scrapped due to a lawsuit challenging favor given to the priority group.
  • The RRF program received more than 278,000 submitted and approximately 101,000 applicants were approved.
  • In total the $72.2 billion was requested  but since the Restaurant Revitalization Fund Replenishment Act of 2021 was not approved, just $28.6 billion was disbursed.
Photo by Elina Sazonova from Pexels
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RFF

Restaurant Revitalization Fund Replenishment Act

Women Owned Small Businesses

Minority Owned Small Businesses
Veteran Owned Small Businesses
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COLUMBIA MD ACCOUNTANT

Travis Raml, CPA & Associates, LLC is an accounting firm in Columbia MD which offers, tax services, outsourced CFO, outsourced controller, businesses advisory, and coaching services to businesses and individuals thorough out the Greater Washington, DC and Baltimore, MD area.

​We also provide service in Ellicott City, Columbia, Annapolis, Severn, Odenton, Crofton, Silver Spring, Rockville, Bethesda, Gaithersburg, Potomac, Reston, Tysons Corner, Fairfax, Alexandria, Arlington. We're also a local CPA firm conveniently located in Columbia Maryland directly across from Columbia Mall.
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Travis Raml, CPA has been an accountant since 1998 and a certified public accountant (CPA) since 2003 and prides his firm on delivering high quality small business CPA services. He specializes in Columbia Tax Preparation, and Columbia Maryland Accounting Firm.


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