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For restaurants Covid-19 was a crisis – pandemic loans are proving a disaster

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 16/10/2026, 13:05:25 UTC.

Briefings

Jai Mazumdar, owner of Spice N Curry in Miami, secured a $370,000 EIDL loan in early 2021 to keep his restaurant afloat during the pandemic. Despite a 30-month deferment and low 3.75% interest, the business failed to generate sufficient revenue to repay the debt. The loan ultimately proved a disaster for Mazumdar, who has served his customers for over 20 years, highlighting a systemic issue where pandemic relief loans failed to support long-term recovery.

Key points

• Jai Mazumdar secured a $370,000 EIDL loan in early 2021 to keep his restaurant afloat during the pandemic.
• The business failed to repay the debt despite a 30-month deferment and low 3.75% interest rate.

Context

Jai Mazumdar has served his customers for over 20 years at Spice N Curry in Miami. The restaurant faced severe challenges during the pandemic, leading to the need for emergency financial aid.

Limitations

Evidence is limited to Mazumdar's personal experience; broader industry trends or long-term outcomes are not covered.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 16/10/2026, 13:21:47 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

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