What the CARES Act Means for Restaurants
The outbreak of COVID-19, and the effects of the public and government response, is impacting all businesses, but it’s severely affecting the hard-working owners, operators, farmers, delivery drivers, staff, and just about everyone in the food business. Closures of non-essential businesses and shelter-in-place measures have forced restaurants to either close or shift completely to takeout or delivery. This has created substantial losses for restaurants, with some regions seeing a 75% decrease in sales over a very short period of time.
The U.S. government has enacted a new law designed to provide financial relief to individuals and businesses during the COVID-19 crisis. Here’s what restaurant owners and operators need to know about Title I of the CARES Act.
Planning restaurant finances during COVID-19 is complicated. Along with this page, we’ve created a free Guide to Restaurant Finances During COVID-19. This guide helps you calculate Paycheck Protection Loans, your P&L statement, a budget template, and more.
Download COVID-19 Finance Resources here:
https://rallyforrestaurants.com/cares...