ABC7 News analysis shows that French laundry has received more than 4 2.4 million through the Paycheck Protection Program, while smaller, lesser-known restaurants struggled to get approval from a federal program designed to help small businesses during the coronavirus epidemic, an ABC7. News analysis shows.
Iter reported in July that the PPP laundered between 2 2 million and 5 5 million, depending on the list released by the small business administration. However the list does not specify the exact amount of the loan.
According to ABC7, Business Michelin-Star Restaurant in Littleville received two loans, both approved on April 30, according to ABC7, which fought through data provided by a small business administration. According to SBA, the first loan was more than 2. 2.2 million to retain 163 employees, while the second loan was for 194,656 to retain five employees. The PPP was established in the Care Act of 2020, which provided “small businesses with funds to pay up to 8 weeks of parole costs, including benefits. The funds can also be used to pay interest on mortgages, rent and utilities.”
According to ABC 7, the average two-area rest restaurant rent of more than $ 2.4 million given to French laundry is 17 times higher than that it receives from the PPP.
P.P.P. This is a recent example of how a large portion of the funds went to large companies, while small mom-to-pe organizations struggled to get any federal assistance.
According to a Washington Post analysis of SBA data, national chains have received millions of dollars more than previously known from the Paycheck Protection program. For example, more than 1,000 Sonic Drive-in Rest Restaurant rentals received PPP funding, accumulating more than 100 million in all of them.
This is not the first time French laundry has been in the news recently for the wrong reasons.
Last month, California Governor Gavin News was caught eating for a birthday party in violation of state guidelines, and just a day later, San Francisco Mayor London Breed did so.
Although the breed does not technically violate state or city coronavirus guidelines, he acknowledged that attending a birthday party in French laundry breaks the spirit of the rules.
SFGate authors Diane Diggusman and Eric Ting and the Washington Post contributed to this report.
