By Dana Sanchez
One in four U.S. jobs lost during the pandemic have been in restaurants and bars, and the total jobless rate is now 10.2 percent as Congress tries to hammer out a second stimulus package.
Facing stay-at-home orders, dining room closures and delivery commissions of up to 30 percent, thousands of restaurants still managed to stay in business through the spring covid-19 shutdown because of government stimulus in the form of Payroll Protection Program loans.
Even so, one in three U.S. restaurants could close permanently this year due to the pandemic and changing consumer behavior, according to data from restaurant consultancy Aaron Allen & Associates.
Small businesses could get a second Payroll Protection Program loan in next stimulus package, but more than half of the restaurants won’t qualify based on the proposed parameters of the legislation, according to National Restaurant Association.
A new bill introduced in late July for a second PPP loan is part of a broader relief Click here to read entire article