The May jobs report beat everyone’s expectations at 8:30am EDT this morning. The U.S. Bureau of Labor Statistics’ (BLS) national unemployment rate for May was 13.3%, nearly one third better…
Delinquencies on U.S. restaurant mortgages tripled from April to May. From 3.67% in April, U.S. retail establishments’ unpaid commercial mortgages increased to 10.14% in May. Restaurants have been one of…
Even though many restaurant owners have already applied for financial assistance, there are distinct sources of relief that many restaurant owners have overlooked. With over $52 billion of lost revenue,…
Restaurant patrons are showing solidarity with the legacy of George Floyd and Black Lives Matter by supporting black business owners. The idea is to prioritize black-owned establishments to financially support…
As if restaurant owners needed anything more to worry about, meat and dairy prices have been increasing. The national standard for pork prices, the “cutout,” is up 75% since April…
In late February, estimates for the duration of COVID-19 lockdowns lasted just a couple weeks. Yet here restaurant owners are today, three months later and $52 billion poorer, with restrictions…
As of the close of business on May 28, 2020, the U.S. Small Business Administration (SBA) has approved 4,460,265 Paycheck Protection Program (PPP) loans from 5512 lenders totaling $510,536,339,105. That…
There is a silver lining to the current crisis for restaurant owners. After an uninterrupted decade of rising costs and competition, COVID-19 has granted restaurant owners renewed power at the…
Second to labor, restaurant owners’ next biggest expense is their rent or mortgage payment. Since COVID-19 lockdowns began in March, many restaurant owners have furloughed their employees which accomplished the…
Two of the main restaurant lobbies achieved a major milestone this week in Washington DC, earning a $120 billion funding proposal on May 20, the day after meeting in-person with…
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