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Lakewood Times

Lakewood Times

Lakewood Times

    Impact of Covid-19 on Restaurants

    Covid-19 has had an impact on everyone’s lives, regardless of if they used to go to parties and stay up late, or went to work and chatted with colleagues that they are familiar with. This all changed due to Covid-19 creating a state of panic, where people didn’t even go see their family members, instead checking up on them online or through calls. But this is not all that Covid-19 has affected.

    Covid-19 has affected the prosperity of many businesses such as DoorDash, Uber, and Grubhub in a positive way, allowing these businesses to prosper. Most restaurants, though, were on the verge of shutting down or had already shut down due to Covid-19.

    Luckily, Small Business Administration has decided to help with a $28.6 Billion Restaurant Revitalization Fund. The Restaurant Revitalization Fund gives this $28.6 Billion as direct relief funds to both restaurants and hard-hit food establishments from Covid-19. “This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Funds must be used for allowable expenses by March 11, 2023.”

    These words allow for us to have a general idea about how much Covid-19 has impacted restaurants and food establishments.  This also goes to show how much Covid-19 has effected both the economy and our restaurants.

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