There will be a pilot period where a small group of eligible businesses that have received PPP loans will get a first crack at the application process. It also prioritizes businesses owned by women, veterans and socially and economically disadvantaged individuals. Operations with more than 20 locations aren’t eligible, but franchises are. The $2.8-billion program targets small businesses. "This is one of the industries that had a lot of restrictions during COVID, especially early on." But for restaurants that need a little more to keep the doors open, there’s a new program in the pipeline.ĭirector for the Montana District of the Small Business Administration Brent Donnelly says the federal Restaurant Revitalization Fund program is designed to make up for lost revenue suffered by restaurants, bakeries, breweries and even food trucks. She says that help might be enough to get the business through the year. It also qualified for three state grants and is currently applying for an Employee Retention Credit under the CARES Act.
Kelleher says the bakery was approved for two Paycheck Protection Program loans, one of which was forgiven. And in fact, we're not even able to keep up with demand at the moment." "We've reopened our doors, we're seeing our volume go back to normal, per se. But, with spring weather and declining case numbers, they’re seeing a light at the end of the tunnel. Right before their third busiest holiday, Valentine’s Day, an employee tested positive for COVID, and they had to temporarily shut their doors while the whole staff quarantined. For safety, the shop was only open for curbside pickup through the winter. She says sales were down about 35% for the first two months of the pandemic. Kelleher says, "We've retained every single one of our employees that have chosen to stay." Missy Kelleher is the owner of Bernice’s Bakery in Missoula, and she says without government support, her business probably would have had to let employees go - or even close. Congress as part of the American Rescue Plan. The Small Business Administration announced this week that it will soon begin taking applications for the Restaurant Revitalization Fund program, which was established by U.S. Another lifeline is coming for the restaurant industry.
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