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Under HEALS Act, Over Half of Restaurants Ineligible for PPP Loans

The National Restaurant Association is looking to change a threshold in the Senate HEALS Act which will currently make 55% of restaurants ineligible for another Paycheck Protection Program (PPP) loan.

Via a letter to Congressional leadership, the Association noted that small businesses with less than 300 employees will need to show 50% in quarterly gross receipts to apply for another round of PPP loans. At that level, over half of restaurants will be ineligible for the loans.

In order to get more restaurants the assistance they need, the Association...

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Aug 4 11:17 AM, General News



How the HEALS Act Aims to Help Restaurants

It’s no secret that the restaurant industry was and remains among the hardest hit sectors during the coronavirus pandemic.

The NPD Group reported on July 29 that the surging COVID-19 cases and rollbacks in the re-opening plans from states across the country have stalled restaurant recovery.

As the Senate works to pass its next round of federal COVID-19 relief, the Health, Economic Assistance, Liability protection, and Schools (HEALS) Act, multiple provisions have been introduced to help assist the struggling industry...

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Jul 30 9:02 AM, General News




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