Transcript for By the Numbers: Relief for restaurants
Now to the restaurant industry which is gotten fatter during the pandemic but now code restrictions are lifting. And this week the federal government launched a restaurant revitalization. Fund to help we take a closer look. By the numbers restaurant and food service sales dropped 280 billion dollars below their expected levels between march of two point one in April 20/20 one. And your time 1101000. Restaurants across the country closed permanently or long term according to the National Restaurant Association. But a new federal relief program the 28 point six billion dollar restaurant revitalization fund which got more than 186000. Applications from restaurants. In just the first two days according to the White House. The final provide grants of up to ten million dollars from restaurants bars food drugs and caterers bakeries and other eateries impacted by Coleman. This release is separate from the payment protection program which paid out forty billion dollars in its latest round of funding to accommodation and food service businesses. These businesses collectively received 17%. Of those PPP funds making the industry as a whole. The top beneficiary. President invited touted the new release saying that restaurants play a big role in our economic recovery. And our sense of community.
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