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Only a Few Newtown Township Restaurants Got Federal COVID-19 Relief Funds

Only a Few Newtown Township Restaurants Got Federal COVID-19 Relief Funds | Newtown News of Interest | Scoop.it

Few businesses were hit harder by the pandemic than the restaurant industry, which suffered massive losses during the shutdowns than lingered on, in some form, for more than a calendar year.

 

The federal government responded through the Small Business Administration's Restaurant Revitalization Fund.

 

All told, just over a third of the Pennsylvania establishments that applied received funding. A total of 3,530 establishments were awarded, out 9,944 applicants, as the program ran out of money.

 

Funding was calculated by estimated revenue loss during the pandemic. The minimum award was $1,000, although dozens of Pennsylvania restaurants received at least $1 million or more.

 

Thousands of eateries were still left behind.

 

Read more...

johnmacknewtown's insight:

Some out-of-town corporations with restaurants in Newtown Twp also received money, including Harvest Restaurant Holdings, West Chester, (received $8.6 million); Primo Newtown Corporation (Primo Hoagies), Newtown Sq (received $333,659.89).

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Newtown News of Interest
These Scoops are excerpts from articles published in local newspapers and other sources that may be of interest to Newtown area residents. Please click on the "From" link to access the full original article. Any opinions and "insights" appended to these article summaries are solely those of John Mack and do not represent the opinions of any other person or entity.
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