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Only One-Third of PA Restaurants That Applied Got Any Federal COVID Relief Money! Meanwhile, Aid Has Dried Up.

Only One-Third of PA Restaurants That Applied Got Any Federal COVID Relief Money! Meanwhile, Aid Has Dried Up. | Newtown News of Interest | Scoop.it

The pocketbooks of restaurants have been sliced and diced by the pandemic, as the National Restaurant Association says the restaurant industry lost a quarter of its revenue during the pandemic.

 

While billions in state and federal dollars have been made available, the financial cupboard is now bare and some owners say they’ve only gotten peanuts so far.

 

Beyond the tens of billions of dollars made available through the federal Paycheck Protection Program, Congress specifically fed struggling restaurants vital money through the Restaurant Revitalization Fund. It was a $28.6 billion package, of which nearly $950 million came to more than 3,500 Pennsylvania establishments.

 

But the Small Business Association says that the well has run dry, with many left crying foul.

 

Reports show the top 5 percent of awardees took 40 percent of the money, meaning only one-third of Pennsylvania restaurants that applied got any money.

 

And a mandate that women, veterans, and people of color got first dibs at the aid led to lawsuits from restaurants owned by white men and conservative advocates. That led to SBA reportedly rescinding previously approved awards.

 

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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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