Restaurant Revitalization Funds for 3,000 Small Business Owners in Jeopardy

Monday, June 21st, 2021 -- 10:01 AM

(WMTV) Almost 3,000 small business owners are facing the rollback of federal money they were promised under the Restaurant Revitalization Fund. Less than three weeks ago, the U.S. Small Business Administration stopped distributing money from the fund, leaving some business owners hanging.

The Restaurant Revitalization Fund was a $28.6 billion program created by the latest COVID-19 relief bill, intended to help cover the loss of revenue for restaurants, caterers and other food and drink related businesses.

“We know that restaurants and hospitality in general have been outsized impacted by the pandemic,” said Greater Madison Chamber of Commerce president Zach Brandon. He added, “That’s not just a storefront, that’s a livelihood.”

The fund prioritized businesses owned by women, veterans and socially disadvantaged groups. However, some business owners filed lawsuits alleging discrimination and federal courts issued an injunction, forcing the SBA to cancel payments the agency had already promised to close to 3,000 businesses and stop prioritizing.

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