SBA to award remaining Restaurant Revitalization Fund grant money
The Small Business Administration will begin distributing about $83 million in unused Restaurant Revitalization Fund grant money to business owners, the agency said Wednesday.
The money will go to about 169 business owners with pending applications, according to the National Restaurant Association, which has pressed the SBA for months to distribute unused RRF money. The grants will be awarded in the order initial applications were received. Business owners in line for the money will start seeing it next week, the group said. The businesses have until March 2023 to spend the money.The decision by the SBA to release the unused money ends a monthlong pressure campaign by outside groups. In July 2022, the Government Accountability Office released a report entitled"Restaurant Revitalization Fund: Opportunities Exist to Improve Oversight" stating that, as of June 2022, $180 million of RRF funds remained unobligated.
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