Posted on 05/05/2020 8:53:05 AM PDT by Hojczyk
In New York, and other states that have yet to reopen, and where occupancy limits are inevitable once they do, a PPP loan can feel more like a burden than a gift. “It feels really scary to take on potential debt even though it’s like, maybe forgivable when the timeline for reopening is so vague. And then there’s no clarity about whether or not we can open in a full capacity,” says Carla Perez-Gallardo, a co-owner of Lil Deb’s Oasis, a snug neighborhood restaurant in Hudson, New York.
Lil’ Deb’s Oasis has a legal capacity of 30 people, and the restaurant’s owners can’t see a way to hire back their full-time staff members while serving a half-empty restaurant. “The pressure is on businesses to pay their employees that they’ve hired back, at a time in which they may not even be able to pay their rent,” says Perez-Gallardo. “It feels like an odd narrative to be moving toward at a time where it doesn’t feel possible.”
The path forward is extremely uncertain for restaurants, whether they apply for and are given a PPP loan or not. Resources and guidance across the country are limited, and restaurant owners are left to ask questions that no one, it seems, will answer. “For us, the best-case scenario would be to have flexibility with our landlord and for our local and our federal government to provide some relief or guidance in how to move forward,” says Sprouse, who applied for a loan but has yet to hear back. “Right now it’s like they’re putting a Band-Aid over a severed leg.”
(Excerpt) Read more at eater.com ...
The virus has run rampant and it didn’t cause anything like you are saying.
Yes, because we took the necessary mitigation measures. You cannot extrapolate the status quo to an unmitigated population.
Added you to the doom and gloomer list
Ooh, on a list now am I? Next you’ll be telling me I’m on double secret probation.
Wonder if STARBUCKS will keep letting the homeless take up precious space all day long?????
I’m figuring 50 % of all restaurants in the US will be closed by November..... What do governors know about running a business...What the hell are capacity restraints?????
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