Baton Rouge / louisianaradionetwork.com
Dec 22, 2020 1:44 AM
Included in the $900 billion pandemic relief bill are provisions to assist the struggling restaurant industry. Louisiana Restaurant Association President Stan Harris said the bill gives a second round the Paycheck Protection Program for restaurants that includes loan forgiveness and 24-weeks to spend the capital.
“And we were able to get a carveout for the restaurant industry in this, that instead of 2.5 times average payroll, 3.5 times their average payroll, would be the maximum that they are able to borrow,” said Harris.
Harris said the pandemic has been devastating to the restaurant industry in Louisiana forcing one in six eateries to close their doors and he fears that the number is growing. Harris said while they appreciate Congresses’ latest round of relief for many restaurants it is too late.
Louisiana Restaurant Association pushing for more federal aidÂ
Thursday, December 17, 2020
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