As eating places look to leverage trillions of {dollars} in stimulus, together with $ 28.6 billion in designated restaurant reduction funds that have been authorised earlier this month, many companies have simply acquired a much-needed two-month extension to use to your Paycheck Safety Program (PPP) loans, stories CNBC.

The PPP Extension Act, which handed 92-7 within the Senate on Thursday (March 25) and handed 415-3 within the Home of Representatives on March 16, extends the deadline for firms to submit purposes. till Might 31 and extends the time period of the Small Enterprise Administration. to course of purposes for one month. The extension comes as billions of {dollars} allotted to small enterprise reduction stay with out vacation spot regardless of widespread want, stories CNN.

“This extension is desperately wanted,” mentioned the senator. Ben cardin, president of the Small Enterprise and Entrepreneurship Committee, mentioned Tuesday (March 23), stories USA As we speak. “This takes time for these purposes to not solely be submitted, but in addition processed. In consequence, if we do not develop this system, there shall be quite a lot of small companies that shall be overlooked. “

The biggest franchisee within the nation doubles in measurement

Flynn Restaurant Group, the most important franchise in the USA working greater than 1,000 restaurant models, merely doubled its depend to 2,355 areas with its most up-to-date acquisition, stories Restaurant enterprise. The group introduced Wednesday (March 24) that it’ll purchase 937 Pizza Hut and 194 Wendy’s areas from the restaurant franchisee. Worldwide NPC after the chapter of NPC. This marks the nation’s largest franchise-to-franchisee sale to this point and can carry Flynn Restaurant Group’s whole annual gross sales to a staggering $ 3.5 billion.

“We’re happy to announce the addition of Pizza Hut and Wendy’s to our portfolio,” Founder, President and CEO, Flynn Restaurant Group Greg flynn mentioned in an announcement printed within the Information star. “They convey with them an exquisite group of devoted operators and assist employees, whom we warmly welcome to the Flynn household. Moreover, each Pizza Hut and Wendy’s are deeply established as main ideas of their industries, and our entry into their methods furthers our aim of working at scale in world-class manufacturers. “

The acquisition comes amid a wave of robust gross sales from quick and informal desk service chains, a pattern famous by Flynn himself in a latest interview with Bloomberg. As vaccines unfold throughout the nation and stimulus controls hit shoppers’ financial institution accounts, diners newly immunized with the funds at their disposal search restaurant experiences.

7-Eleven Introduces First Drive-Through Restaurant

Comfort retailer large 7 Eleven is stepping into the drive-thru restaurant recreation with its Laredo Taco Firm drive-thru, which opened Tuesday (March 23) in Dallas, Texas, stories CNN. Along with tacos, the drive-thru additionally serves a wide range of drinks, together with Slurpees, espresso drinks, and alcoholic choices together with margaritas, beer, and wine. The restaurant additionally contains an indoor eating room, in line with the Press launch saying the inauguration.

“7-Eleven is named a beverage vacation spot, and the Laredo Taco Firm prepares a few of the finest quick-service Mexican dishes anyplace,” mentioned 7-Eleven’s chief working officer. Chris tanco it mentioned in an announcement. “Add the comfort of getting a taco mixed with a Slurpee drink by way of drive-thru, and it is a match made in heaven.”

The drive-thru is open from 5:00 am to 10:00 pm 5 days per week, Sunday by way of Thursday, and is open for an extra half hour on Friday and Saturday. Along with the restaurant’s customary menu, “breakfast tacos and bowls” are served till 10:30 am, and there may be additionally a “Los Niños” kids’s menu.

“Whereas opening Laredo Taco Firm’s first drive-thru restaurant with a 7-Eleven retailer can be thrilling anytime, we consider that prospects on the lookout for socially-distanced methods to eat breakfast, lunch and dinner will actually admire it now,” added Tanco. “I hope that quickly, ordering tacos and drinks for in-person gatherings with household and mates would be the norm once more.”

Metropolitan espresso chain Bluestone Lane targets new markets

Excessive-end espresso store and low chain Bluestone LaneImpressed by Australian espresso store tradition, it’s increasing past the city coastal markets which have been its bread and butter, so to talk, till now. The corporate Introduced on Thursday (March 25) it’s going to add 15 new areas to the present 51 all year long.

Whereas the upcoming openings on the horizon are pretty typical for the corporate, which spans its hometown of New York, in addition to San Francisco and Los Angeles, the chain will enter new markets later within the 12 months. Openings are deliberate in a number of suburbs on the East Coast. Moreover, the brand new areas in Texas will mark the chain’s first growth into the US past the coasts. (There are a few Bluestone Lane areas in Toronto although.)

“Bluestone Lane constructed a loyal following in bustling cities, the place our locals might get pleasure from their day by day getaway with premium espresso and a wholesome meal,” mentioned the chain’s founder and CEO. Nicholas stone it mentioned in an announcement. “Many locals have moved to the suburbs, however we additionally know that main cities like New York is not going to disappear. So our growth plan contains each.”

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PYMNTS STUDY: A NEW APPROACH TO MODERNIZING PAYMENTS IN BANKING – 2021

In regards to the examine: A New Method to Modernizing Funds in Banking, a PYMNTS collaboration with Purple Hat and Temenos, is a research-based report that examines the developments remodeling retail and the way these modifications are creating new challenges and alternatives for banks. The report goals to offer banks with a roadmap to assist them purchase the technical capability essential to assist digital funds in all its types.