In this Mar 31, 2021, people drink outdoors on the patio of Big Dean's Ocean Front Cafe, decorated with beer banners with the image of Los Angeles Dodgers's Justin Turner, in Santa Monica, California. NEW YORK: Thousands of restaurants and bars decimated by the COVID-19 outbreak have a better chance at survival as the government begins handing out US$28.6 billion in grants - money to help these small businesses stay afloat while they wait for customers to return.
The grants, up to a maximum of US$10 million, are aimed at replacing lost revenue at restaurant companies with up to 20 locations. Businesses with more than one restaurant can get up to US$5 million per location, but each applicant is limited to a total of US$10 million in funds. Restaurants will remain vulnerable as long as people are uneasy about contracting the virus, and as long as business and leisure travel remains depressed, says Sean Kennedy, an executive vice president at the restaurant association.
A member of the wait staff takes food to outdoor diners at the Mediterranean Deli restaurant in Chapel Hill, North Carolina, on Apr 16, 2021. The grants appeal to restaurant owners who didn’t get PPP money because they were concerned about possibly having to pay back loans, says David Lopez, president of the Greater Kansas City Restaurant Association.
“The new restaurants, that maybe started before the pandemic occurred, are the places that are really being hurt. Margins are thin enough as it this, even without the pandemic,” he says.
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