WASHINGTON — Thousands of restaurant owners, employees, diners and vendors are calling on President Biden following last week's State of the Union to help push through another round of restaurant relief funding as part of the next continuing resolution to fund the government.
The plea comes in the form of a letter, spearheaded by the independent Restaurant Coalition, which paints a bleak picture for many business owners and restaurants without more funding for the Restaurant Revitalization Fund — which quickly ran out of money following its debut in 2021.
The SBA said it had $50 billion in unfilled applications from hundreds of thousands of restaurants made before the initial $28.6 billion was exhausted. The letter says nearly 200,000 restaurant and other business owners applied for but did not receive funding. An analysis by the IRC in January found businesses that did not receive RRF funds were more likely to file bankruptcy or be in danger of filing for bankruptcy than those businesses receiving RRF grants.
The analysis also found 28% of businesses that did not receive RRF grants are anticipating or have received eviction notices, compared to just 10% that had received grants.
“Restaurant owners and workers have been united for nearly two years, fighting through the unpredictable challenges Covid-19 has thrown our way so we can preserve our businesses, our jobs and continue to support our communities. But we cannot fight much longer if we don't receive relief,” the letter states.
The letter is just the latest call for additional relief from the industry. In December, mayors from 31 cities representing more than 19 million Americans urged Congress to continue the vital program, saying not giving restaurants relief would be “catastrophic.”
Read the full story on the St. Louis Business Journal website.
