Included in Congress’ $900 billion relief bill are several unique provisions for the revived Payroll Protection Program to assist the battered restaurant industry.
As part of the plan, restaurants can seek forgivable loans based on 3.5 times their monthly payroll costs, as compared to the 2.5-times limit on loans for other businesses.
The Louisiana Restaurant Association has applauded the news, amid worries that the struggling restaurant industry would be left out of the relief bill.
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For the rest of the story, read on from the Monday, Dec. 21, edition of Daily Report. To keep up with Baton Rouge business and politics, subscribe to the free Daily Report e-newsletter here.