In the previous couple of weeks, we now have needed to lay off our complete restaurant workers of 11 folks, in addition to a dozen extra from our catering firm.
On March 18, Sen. Susan Collins launched a small-business relief bill. I used to be below the impression that it will assist my enterprise and workers – till I seemed additional.
Paycheck Safety Program loans are purported to pay eight weeks of payroll with a small portion for lease, utilities, insurance coverage and different prices. Nonetheless, for a mortgage to be forgiven, the borrower’s enterprise have to be at full staffing by eight weeks after receiving the cash. Instances are unsure. Most don’t understand how lengthy it’ll take their companies to reopen and get well. Due to the tight deadline, Maine companies are struggling to rent again their full workers. The safety of unemployment advantages throughout a pandemic is just safer for employees who’re afraid of the uncertainty after a meager eight weeks.
Small companies are compelled to take the pressure off federal unemployment however are pitted in opposition to the safety of these advantages. If we fail to get all of them on board, the mortgage time period and full payback is for a devastating 18 months.
A much bigger drawback: Those that want the funds merely can’t get them. Nationally, only 5.8 percent of those that’ve utilized for PPP loans have obtained them. Research present small companies owned by ladies and folks of coloration have been even less likely to get loans. That’s as a result of restaurant and lodge chains can apply for PPP loans so long as every location has below 500 workers. The result’s 4 percent of borrowers getting nearly half of the obtainable funds.
The enterprise homeowners of Maine – those who took a danger to begin an organization and contribute to the economic system of Maine – are desperately awaiting the assist Sen. Collins is touting.
Sen. Collins, we’d like actual assist, not a public relations tour. Maine livelihoods are at stake.
proprietor and chef, The Garrison and Dandelion Catering
— to www.pressherald.com