“Actually probably the most troublesome half just isn’t figuring out what is going on to return subsequent,” mentioned Stanley Athan, proprietor of The Brunchery.
TAMPA, Fla — The final 9 months have been a rollercoaster for Stanley Athan, proprietor of The Brunchery’s two areas in Hillsborough County.
“Actually probably the most troublesome half just isn’t figuring out what is going on to return subsequent,” he mentioned.
The shutdowns earlier this yr and the continued want for social distancing imply enterprise is down practically 40 p.c. Nevertheless, the excellent news is billions extra in stimulus cash is on the way in which to small companies.
On Monday, Congress handed a $900 billion COVID-19 reduction invoice that features $325 billion for small companies. Of that quantity, $284 billion will go to a different spherical of Paycheck Safety Program loans.
“I am simply glad that Congress has really stepped in now and given a second stimulus to have the ability to assist these individuals as a result of the restaurant business itself has been completely decimated,” Athan mentioned. “What we’re [on] about is that cash will assist get us via this troublesome time, assist hold our staff on employees as a result of on the finish of the day if we do not have staff, we can’t perform as an open entity.”
Small companies hold our native economies alive. Few know that higher than individuals like Roy Hellwege, CEO of Pilot Financial institution.
“Usually I am in opposition to deficit spending. I am in opposition to that kind of factor. However on this case, each the preliminary stimulus it was clear it saved jobs, it supported households, it was completely applicable in my thoughts,” he mentioned.
Over the past eight months, Pilot Financial institution has made greater than eight hundred loans to assist Tampa Bay companies keep afloat. Now, he is upgrading know-how to deal with the inflow of functions as soon as the cash is offered.
“We plan on being prepared day one when this program is able to be rolled out,” Hellwege mentioned.
For small companies that want extra funding, consultants say smaller loans are sometimes extra accessible via neighborhood banks than they is likely to be with huge ones. Many firms discovered the onerous approach after dealing with rejection from bigger banks throughout the first spherical of PPP loans.
“I am simply glad that Congress has really stepped in now and given a second stimulus to have the ability to assist these individuals as a result of the restaurant business itself has been completely decimated,” Athan mentioned.
►Breaking news and weather alerts: Get the free 10 Tampa Bay app
