In May 2021, the Restaurant Revitalization Fund (RRF) launched with $28.6 billion allocated by Congress to provide funding to a sector of the economy especially hard-hit by government-imposed shutdowns and other restrictions related to the COVID-19 pandemic.
The funds supplied fell far short of the demand. While the program’s administrator, the U.S. Small Business Administration, awarded more than 100,000 RRF grants totaling $28.6 billion, the program received nearly 280,000 RRF applications seeking more than $72 billion in funding.
The following