Help money for restaurants is on the way

Help money for restaurants is on the way

“I am ready, I probably researched this more than most people,” she said. “I’ve got ample applications printed out and filled out.” She has had her application ready to go for weeks. All three of her restaurants are currently closed. Some experts say the federal restaurant revitalization fund that’s about to open is crumbs compared to the need.

Jill Marcus is among those needing financial help. She owns three Charlotte restaurants – the café at the Discovery Place, the café at the foundation for the Carolinas, and Halcyon in uptown Charlotte. She also has a catering company. The relief funds are first come, first serve – and you must visit sba.gov/restaurants to apply.

“We are anxiously awaiting the restaurant revitalization grant,” she said. There is a federal relief act – money earmarked just for restaurants – but industry insiders who spoke to WCNC Charlotte’s Michelle Boudin argue it’s not nearly enough money.

Some small businesses that had to close earlier in the pandemic have been able to reopen, in large part because of customer support. That’s according to a January 2021 report from Facebook and the Small News Roundtable, a coalition of organizations that advocate for businesses and entrepreneurs. According to the report, 25% of small businesses were closed in December 2020, an improvement from 31% in April 2020. Among those that closed and later reopened, 31% say customer support is the reason they were able to do so. Businesses also cited social distancing measures (40%) and loosened restrictions (30%) as factors that allowed them to reopen. According to the U.S. Small News Administration, when you spend $100 at a small business, $48 stays in the community. Spend the same $100 at a big-box store or national retailer and only $14 stays.

The SBA will keep the program open until all funds are exhausted. For the first 21 days that the program is open, the agency will be prioritizing applications from businesses that are owned and operated by women, veterans, and those considered “socially and economically disadvantaged.” “We expect this funding will be exhausted almost immediately,” John Standford with the Small News Roundtable told Boudin. “There are just so many restaurants and bars that have helped so much pain. There isn’t enough funding.”

The News Highlights

  • Help money for restaurants is on the way
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Epic Games offered Sony $200 million in exchange for access to first-party PlayStation games

Epic Games offered Sony $200 million in exchange for access to first-party PlayStation games

Though smash PlayStation hits like Horizon Zero Dawn were brought to PC, that title in particular isn’t exclusive to Epic. It was also available through ...
brilliant for Xbox gamers, but we hope to see more X Series news

brilliant for Xbox gamers, but we hope to see more X Series news

It raises some interesting questions. Shadow of the Tomb Raider runs more smoothly on Series S than it does on Series X but Microsoft made the call that this ...
SFO launches survey on Greensill financing from Gupta companies |  Siderurgy

SFO launches survey on Greensill financing from Gupta companies | Siderurgy

Source www.theguardian.com GFG has been approached for comment. Gupta’s companies employ another 2,000 people elsewhere in the UK, and as many as 35,000 ...
Hawaii's tuna fishing industry made more money after marine sanctuaries were expanded

Hawaii’s tuna fishing industry made more money after marine sanctuaries were expanded

Source www.deeperblue.com (Image credit: Fabien Forget/ISSF) “The data shows that revenue per unit effort generally increased since the expansions began in ...
MU to provide mental health support to schools in Boone County |  A better tomorrow

MU to provide mental health support to schools in Boone County | A better tomorrow

“It’s about social, emotional and behavioral health,” he said. “We are able to affect that positively for any student that we come into contact with or a ...
Play At Home 2021 from PlayStation to the end with free in-game content or virtual currency for 10 games

Play At Home 2021 from PlayStation to the end with free in-game content or virtual currency for 10 games

Sony recently revealed the first details of this year’s Days of Play event, which will let players sign up to unlock new avatars and PS4 themes beginning on ...
Cloud Run by Google is offering use discounts and new security features 

Cloud Run by Google is offering use discounts and new security features 

Cloud Run, Google Cloud’s serverless platform for containerized applications, is getting committed use discounts. Users who commit to spending a given amount ...
Desktop browsers affected by ‘scheme flooding’ attacks

Desktop browsers affected by ‘scheme flooding’ attacks

The flaw can allow a site to assign users a permanent unique identifier and use this to trace their behavior across different browsers – even if they are ...
Show next
Compsmag - Latest News from tech, business and health
Logo