- June 22, 2021
- Posted by: Stratford Team
- Category: Business
Biden targets small businesses with PPP changes
The distribution of pandemic relief money to more than 2,900 restaurant businesses owned by women, veterans and disadvantaged people was halted last week following lawsuits by several White business owners.
Restaurants in Tennessee and Texas alleged discrimination by the Restaurant Revitalization Fund, part of President Biden’s American Rescue Plan. The program – which has delivered about $27 billion in relief funds to more than 100,000 restaurants – included a three-week period in May during which the Small Business Administration prioritized processing and funding requests from minority-owned businesses.
Under the program, food and beverage providers are eligible to receive grants equal to their pandemic-related revenue loss, with a maximum of $10 million per business and $5 million per location.
WHAT BIDEN’S CAPITAL GAINS TAX PROPOSAL COULD MEAN FOR YOUR WALLET
But a conservative legal group…
