The $900 billion coronavirus aid bundle consists of $284 billion for small companies, however not all of them could have entry to this support.
OLYMPIA, Wash — Information that President Donald Trump had signed the second pandemic aid invoice on Sunday night time was welcome to western Washington enterprise house owners.
Chris Knudson, proprietor of Olympia’s Properly 80 Brewhouse, stated he deliberate on making use of for the second spherical of federal support Monday.
Practically $300 billion of the $900 billion accredited by Congress shall be given to house owners of small companies, from eating places to bowling alleys.
“With out this cash, I don’t know what the heck we might do,” Knudson stated.
Knudson needed to get artistic to maintain his Properly 80 Brewhouse open in 2020.
However Knudson stated increasing the outside seating and providing extra takeout choices have been solely a part of his survival plan.
He stated he doesn’t assume he would have been capable of keep in enterprise with out the unique spherical of loans accessible by means of the federal authorities’s Paycheck Safety Program, which was a part of the CARES Act bundle that handed earlier this yr.
“No matter we will do to get a bit of more cash to maintain us going is implausible,” Knudson stated.
To qualify for the loans, enterprise house owners should make use of fewer than 300 individuals and show enterprise has dropped greater than 25% in comparison with the fourth quarter of 2019.
Knudson stated he’s misplaced round half of his enterprise and workers since late 2019.
The pandemic aid consists of $300 per week supplemental jobless profit, a $600 direct stimulus fee to most People and a brand new spherical of subsidies for hard-hit companies, eating places and theaters.
Meals stamp advantages would quickly be elevated by 15%. The airline trade will get $15 billion.
Reside venues and theaters, which have been fully shut down or restricted to a fraction of their common capability since March, are additionally getting $15 billion, it will embrace reside venue operators or promoters, theatrical producers, reside performing arts group operators, museum operators, and movie show operators.
There’s no particular provision within the invoice for eating places, however they will profit greater than earlier than from the Paycheck Safety Program.
However not all enterprise house owners are celebrating the stimulus bundle.
“We don’t qualify,” stated Tonya Bergum, proprietor of the Olympia Pinball Museum.
Since her enterprise opened in March of 2020, she can’t apply for the federal help.
Bergum stated except extra assist is obtainable by the federal authorities, or the state, she received’t survive.
“We’re going to have to shut, we’ll should pack all of it up,” Bergum stated. “We received’t be again.”
The Washington Hospitality Affiliation additionally hopes extra assistance is on the best way.
“It is a good down fee on aid for the hospitality trade,” stated affiliation president and CEO Anthony Anton. “We stay up for persevering with to work with lawmakers on the state and federal degree to make sure the hospitality trade sees a powerful restoration.”