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Taco Cabana Under Fire For Accepting CARES Act Money

Taco Cabana is under fire this week for accepting millions of dollars meant to help small businesses survive the ongoing coronavirus pandemic.

A SEC filing shows Taco Cabana was granted a $10 million loan under the Coronavirus Aid Relief and Economic Security, or CARES Act.

The chain, started in San Antonio, has had to close 150 locations since January.

Under the CARES Act, close to $350 billion was handed out to companies through the Paycheck Protection Program. It was meant to help keep employees on the payroll, and the help was generally limited to companies with 500 employees or fewer. An exception was made, however, for the restaurant and hotel industry, and a list of large companies took advantage of the loophole.

Small business owners are also frustrated that large companies are taking the money meant to help their livelihoods survive the pandemic.

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