Fast Casual: How the American Rescue Plan Will Help Restaurant Owners Like Togo’s

In an article published on Fast Casual, Letha Tran, a Togo’s multi-unit franchisee, discussed how the new American Rescue Plan is a step towards a return to normalcy for the restaurant industry.

On March 10th, 2021, President Joe Biden signed the $2 trillion American Rescue Plan. $28.5 billion will go to the Restaurant Revitalization fund, which will give more than $25 billion in grants to restaurants across the nation through the U.S. Small Business Administration. This new bill gives many the hope they’ve been waiting for since the onset of the COVID-19 pandemic more than a year ago.

The first round of PPP loans helped Tran keep doors open and keep employees on the payroll. “I was able to keep 80% of staff employed thanks to the loan,” said Tran.

While she is still waiting on the second round of PPP Loans to be approved, this new relief bill gives her hope. “I believe things will get back to normal soon, and these loans are helping us keep doors open until they do,” she said.

You can view the full article here.