Arlington Restaurant Owners Eager for Access to New PPP Loans – Arlington, Texas

Arlington, Texas 2021-01-15 12:30:02 –

When the pandemic began, Arlington Cabob co-owner Susan Clementi worked on the restaurant’s coronavirus protection 20 hours a day. She didn’t have the time or financial knowledge to navigate the Paycheck Protection Program.

The application fee reached $ 5,000 when she tried to hire legal assistance. Clementi realized that he had to do it himself.

Arlington Cabob was refused funding, but what most frustrated Clementi was seeing restaurants in 12 locations get loans.

“I felt very, very small,” she said.

Her experience in the first round of PPP has been rolled out nationwide.

The Small and Medium Business Administration and the banks issuing loans have been criticized for first funding large corporations, overlooking small, minority-owned enterprises. In the second round, the SBA launched an application for small local lenders this week and will expand access to all eligible lenders next Tuesday.

ARLnow talked to a few restaurant owners waiting for the green light to be applied. All of them said their first job was to pay the staff if they got relief.

“Sometimes we have to spend personal money to pay our employees,” said Vince Johnson, owner of the Mexican street corn stand Shuck Shack at the Pentagon City Mall fashion center. “I didn’t sign it up.”

Sloppy mom’s BBQ owner Joe Neuman said he would use the money to cover his wages and pay invoices that he might not be able to pay in three weeks.

“We’re just trying to minimize losses, knowing that another PPP round will take place at some point,” he said.

Those who applied last year had a hard time navigating the application and process. After Neuman’s wife spent 14 hours on it, their accountants took over and submitted it at 11 pm the night before the funds ran out, the owner of the barbecue joint said.

“We were really lucky,” he said.

Jessica Janez is on another ship. She is preparing for the grand opening of Los Chamacos along Colombia Pike. For her, PPP loans help cover wages until the county issues the final permit.

“We are trying to open the store as soon as possible,” said Yanez. “We have people who work for us, that’s why [Arlington Economic Development] He taught me about the PPP program. “

Some restaurant owners benefit from a significant office population, and working from home is squeezing catering revenue. According to Clementi, the Lee Highway location supported the expansion to the Courthouse in November 2019 and temporarily thrived at the office lunch. Meanwhile, Neuman said dinner sales at his restaurant have increased, maintaining a nearly complete hit with Ballston Quarter locations and catering outfits suitable for lunch.

Some owners are at risk during dangerous times. Janez said she and her husband, Benedict, had the opportunity and “had to take it.”

A year after Johnson opened, he bought a food truck to serve people on the go. He’s still thinking about how to drive a food truck, but so far, business isn’t what he was thinking.

“We are seeing more people in the mall. People are no longer really paying attention to COVID-19. That’s sad,” he said, which caused financial instability in restaurants. I added that it would be prolonged.

Although they face many challenges, these Arlington restaurant owners are dedicated to their community and their roots.

“I know my neighborhood, so I decided to open this restaurant,” said Yanez. “It’s a good neighborhood.”

Johnson is trampling the application and inspection process to bring his truck to a military installation.

“Being a veterinarian myself, putting this together was part of my plan,” he said.

Clementi has appreciated customer support and has offered first responders discounts and free meals.

“We have to make everyone feel stronger by being there for each other,” she said.

Arlington Restaurant Owners Eager for Access to New PPP Loans Source link Arlington Restaurant Owners Eager for Access to New PPP Loans

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