PHOENIX, AZ – Phoenix restaurants are among the many more than 1,300 in Arizona to have received cash from the Small Business Administration Restaurant Revitalization Fund, which was presented last year of Congress as part of a comprehensive coronavirus reduction package.
A total of $ 294.476 million was donated to Arizona restaurants. But the 1,325 companies that received funding under this system were only 33 percent of the 3,992 that used this system, which the SBA closes on Wednesday.
A total of 278 Phoenix companies received SBA funding with grants ranging from $ 1,523 to $ 2.8 million.
A number of the Phoenix Fellows were:
But restaurants across the country are facing an uncertain future after the U.S. Small Business Administration announced last month that it closed the restaurant revitalization fund granted by Congress as part of the coronavirus reduction package.
“For one hundred thousand restaurants, the RRF has made their futures clear and stable, but for the 200,000+ operators who are excluded from funding, receiving this letter today only increases their fear and anger,” said Sean Kennedy, a spokesman for the National Restaurant Association, advised the New York Times. “We need Congress to act.”
In an email to candidates last month, the SBA stated that this system is likely to be “deactivated” on July 14th. At this point it would no longer assume any functions. Nationwide, this system has given grants to 105,000 restaurants, but another 265,000 candidates are still ready. A bill to replenish the fund was presented to Congress, but it was not continued.
Despite the hospitality industry lobbying for Congress to replenish the fund, lawmakers were particularly focused on reaching a compromise on the Biden government’s bill for infrastructure improvement.
Patch has reached out to the Arizona Restaurant Association and will be able to replace this story once they respond.
