Retail

Restaurant chains that received millions in PPP loans during coronavirus crisis

0


A statue of a horse stands at the entrance to a P.F. Chang’s restaurant in Schaumburg, Illinois.

Scott Olson | Getty Images

Large restaurant chains once again received millions in loans from the Paycheck Protection Program, according to data released Monday by the Small Business Administration. 

Businesses in the accommodation and food services sector received more than $42 billion in funding from the program, accounting for 8.07% of the round’s total loans. Roughly $130 billion of the program’s $660 billion remains up for grabs.

The federal program was intended to help struggling businesses that had fewer than 500 workers, but big hotel and restaurant chains won exemptions after the



Source cnbc.com

Skyrocketing of COVID-19 cases around the U.S. slows dine-in restaurant recovery

Previous article

New Zealand wants to overhaul the way buildings are constructed

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Retail