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