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There’s more money for restaurant ownersThere’s more money for restaurant owners

A recent report shows that the SBA has $180 million in undistributed funds

Holly Petre, Assistant Digital Editor

July 29, 2022

 

Welcome to First Bite, a Nation’s Restaurant News podcast, your daily source of news from NRN hosted by Holly Petre.

Today, we’re examining the new discovery that the Small Business Administration has undistributed money in Restaurant Revitalization Fund.

The U.S. Small Business Administration has yet to disperse $180 million of unobligated funds that were set aside for the Restaurant Revitalization Fund as of June 2022, according to a July report published by the U.S. Government Accountability Office. The Government Accountability Office analyzed weakness and issues with the Restaurant Revitalization Fund program, which appropriated $28.6 billion to the foodservice industry in 2021. According to the report, 88% of applicants were eligible for funding but only 40% ended up receiving Restaurant Revitalization Fund money.

Here’s Joanna Fantozzi with more on the story.

Plus, catch up on all the top news of the day with our daily news recap at the beginning of each episode.

Be sure to subscribe to First Bite wherever you get your podcasts or on CastosSpotify, or Apple Podcasts.

 

About the Author

Holly Petre

Assistant Digital Editor

Holly Petre is a digital editor for Nation’s Restaurant News as well as the host of NRN’s podcast, Extra Serving, and producer for Informa Restaurant and Food Group’s other three podcasts, One On One by Food Management, Off the Shelf with SN and In the Kitchen with Bret Thorn. Holly holds a Bachelor of Fine Arts with a concentration in Sculpture, fibers and Material Studies and Ceramics from the School of the Art Institute of Chicago. A native New Yorker, Holly enjoys her place on staff as the resident pop-culture expert and millennial with a sassy attitude and great sense of style.

Holly Petre’s work on Nation’s Restaurant News and Restaurant Hospitality often covers marketing and trends, either aimed-at or examined-through the millennial mindset. Holly is responsible for introducing TikTok and Twitch to NRN and RH readers as well as explaining terms like “Karen” to staff and readers alike. She also spends her time on staff trying not to make every headline a pun.

Holly Petre hasn’t spoken at any events or on panels, but she is readily available with a killer shoe wardrobe and several witty quips.

 

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