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The SBA's Overly Popular Grant Program for Restaurants Is 86ed

Credit: Getty Images
In less than two weeks, the Restaurant Revitalization Fund attracted more applications than an all-you-can eat dinner special.
The Small Business Administration, the agency overseeing the $28.6 billion grant program for hard-hit foodservice businesses, reported on Wednesday that since RRF s May 3rd launch, it received more than 266,000 applications, representing more than $65 billion in requested funds. Nearly half, or 147,000 applications, came directly from women, veterans, and socially and economically disadvantaged business owners, who requested $29 billion in relief funds. That will leave hundreds of thousands of other restaurant owners out of the money.
For its first 21 days of operation, the RRF program was only open to businesses owned and controlled by women, veterans, and socially and economically disadvantaged individuals. To date, $2.7 billion of relief funds have been dished out to 21,000 restaurants. The SBA estimates that RRF aw ....

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There's Not Enough Money in the Restaurant Revitalization Fund

13,114 applications from businesses with under $50,000 in pre-pandemic revenue requesting $330 million in funds
100,410 applications from businesses with under $500,000 in annual pre-pandemic revenue requesting $8.14 billion in funds
61,535 applicants from businesses with $500,000–$1.5 million in annual pre-pandemic revenue requesting $15.1 billion in fund

As you can see, the program is bursting. Since the May 3 opening date, a total of $2.7 billion of relief funds have been distributed to 21,000 restaurants.
There’s plenty of money to still be doled out, and the queue is long.
“The numbers show that we’ve been particularly successful at reaching the smallest restaurants and underserved communities that have struggled to access relief,” said Administrator Isabella Casillas Guzman, head of the SBA. “These businesses are the pillars of our nation’s neighborhoods and communities. We are making progress, but we have much more work to do as we c ....

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Building molecules like Tinkertoys? A breakthrough study may pave the way

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IMAGE: A team of chemists with the University of Chicago announced a new technique that allows scientists to easily cut nitrogen atoms from molecules which can make the process of finding new.
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Credit: University of Chicago
Molecules are the building blocks for our modern world, from phones to cars to Doritos. But coming up with new ones is still an incredibly costly and time-consuming process. A group of University of Chicago chemists wants to find a better way.
If you look at a diagram of a molecule, it seems like you should be able to just snap them together like Tinkertoys, but you can t, said Asst. Prof. Mark Levin. We d like to change that. ....

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TRG Welcomes Sales & Business Development Leader Sylvain Parent

Press release content from PR Newswire. The AP news staff was not involved in its creation.
TRG Welcomes Sales & Business Development Leader Sylvain Parent
May 11, 2021 GMT
Sylvain Parent, TRG Vice President of Sales, Canada
WESTLAKE, Ohio, May 11, 2021 /PRNewswire/ TRG, the global managed solutions provider focused on enterprise mobility, point of sale and payments, is pleased to welcome sales and business development leader Sylvain Parent as Vice President of Sales, Canada.
Sylvain brings nearly 30 years of experience leading sales management and revenue generation efforts within the AIDC technology space. Prior to TRG, Sylvain served in business development roles for several innovative companies, from tech start-ups to enterprise-level entities including TRG partners such as Apex Supply Chain Technologies and Zebra Technologies. In his new role with TRG, Sylvain is responsible for expanding TRG’s presence within the Canadian marketplace, focusing primari ....

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Baltimore Prosecutor Asks FCC To Go After Local News Broadcasters She Doesn't Like

Mon, May 10th 2021 12:15pm
Tim Cushing
It s not often you see a politician ask the FCC to step in to punish a news station. And for good reason: the First Amendment. Politicians are welcome to fight speech they don t like with
more speech, but they shouldn t be calling for a federal government investigation of a TV station just because they don t like the slant of the stories about them.
Baltimore (MD) City State s Attorney Marilyn Mosby thinks a local Fox affiliate is unfairly portraying her and her official doings. Rather than just accept that this is part of being in the business of politics, Mosby is asking the FCC to ask Fox to stop being Fox. Here s the angry letter [PDF] her office wrote one she boosted into Streisandia by airing her particular grievance on Twitter. (h/t Adam Steinbaugh) ....

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