How Successful Was the Restaurant Revitalization Fund?

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: ​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

RFF

Restaurant Revitalization Fund Replenishment Act

Women Owned Small Businesses

Minority Owned Small Businesses

Veteran Owned Small Businesses