SBA Revokes Restaurant Revitalization Fund Approvals

The Small Business Administration has revoked Restaurant Revitalization Fund grant approval for almost 3,000 restaurant owners who were prioritized during the fund’s first three weeks when it was only accepting applications from women, veterans, and “socially and economically disadvantaged”, reports Restaurant Dive.

The agency revoked the approvals after Texas and Tennessee judges issued injunctions on the fund disbursement in response to lawsuits arguing that the priority period was unconstitutional. In response to the Tennessee injunction on May 27, the SBA stopped payments to priority applicants as a result of the legal blowback.

In court filings, the agency said that operators who have had their approvals rescinded will now only receive payment once the SBA “completes processing all previously filed non-priority applications, and only then if the RRF is not first exhausted.” Full Story

Related: Legislation Introduced to Replenish Restaurant Revitalization FundRestaurant Fund Applications To Close.

by: Perry Wings
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