Support for LAist comes from
We Explain L.A.
Stay Connected

Share This


Kura Sushi Got A $6M Gov't Loan. They Have Access To Millions In Cash Already

Before you
Dear reader, we're asking you to help us keep local news available for all. Your tax-deductible financial support keeps our stories free to read, instead of hidden behind paywalls. We believe when reliable local reporting is widely available, the entire community benefits. Thank you for investing in your neighborhood.

The "revolving sushi bar" restaurant Kura Sushi is one of the 112,967 small businessesin California that have received a Paycheck Protection Program loan so far.

That's the $349 billion loan program created by Congress to encourage companies to continue paying their employees.

But the Irvine-based company might not seem like a small business: it has 25 locations in five states, $24 million in cash on hand, and access to $20 million more through a loan from its majority stockholder, a Japanese company.

“It’s outrageous that companies that know they have funding available to them are asking for this kind of money,” said John Kabateck, the California state director of the National Federation of Independent Businesses.

Support for LAist comes from


Our news is free on LAist. To make sure you get our coverage: Sign up for our daily coronavirus newsletter. To support our non-profit public service journalism: Donate Now.