New SBA Guidance Encourages Restaurant Chains to Return PPP Loans
After a week of public outrage over millions in Paycheck Protection Program (PPP) funds going to publicly traded restaurant chains, the Small Business Administration (SBA) added new guidance to its FAQ about the program. Item 31 states: Borrowers must make this certification in good faith, taking into account their current business activity and their ability […]
Shake Shack is Returning Its $10 Million Paycheck Protection Loan. Will It Help?
The Paycheck Protection Program (PPP) funds initially intended to help small businesses with less than 500 employees survive the COVID-19 crisis dried up as of last Thursday. However, few independent restaurant owners benefited from the loan program. This situation has put a negative spotlight on large chains that received millions in PPP funds, including New […]
Emergency Loans Dry Up, Leaving Houston Restaurant Owners Empty-Handed
This morning, the White House announced that the $350 billion earmarked for the Small Business Administration’s Paycheck Protection Program (PPP) is completely depleted. In addition, the separate Economic Injury Disaster Loans (EIDL) is also low on funds. This means many Houston-area restaurant and bar owners will continue to endure difficult financial situations. They will be […]
Restaurants and Organizations Join Forces on Houston Food Donations — Updated
James Beard Award-winning chef Chris Shepherd launched Southern Smoke in 2015 to support his friend and former sommelier Antonio Gianola, who was diagnosed with multiple sclerosis. In 2017, Southern Smoke shifted its focus to provide assistance to people in the food and beverage industry affected by Hurricane Harvey. When the COVID-19 crisis hit, Southern Smoke’s […]
Ayuda para los Trabajadores de Restaurantes, Bares y Hoteles Impactados por la Crisis del Coronavirus — Actualizada
Many thanks to Carolina Villarroel and JD Pluecker for translating this article to Spanish. If you are interesting in their translation and interpeting services, visit here. Muchas gracias a Carolina Villarroel y JD Pluecker por traducir este artículo al español. Debido al cierre de bares y de los comedores de los restaurantes en todo el […]