Rapids wants to be sure as many restaurant and hospitality businesses as possible are aware of the federal funding available through programs like the CARES Act to help get them through these incredibly difficult times.
The CARES Act refers to the Coronavirus Aid, Relief, and Economic Security Act, legislation recently passed by the United States government. The relief package includes the Paycheck Protection Program, which is designed to provide 100% federally guaranteed loans to small businesses and certain nonprofits.
The loan can be used for a variety of expenses related to your employees, such as payroll compensation, group healthcare benefit payments, separation allowance, etc.
If you are a business with fewer than 500 employees, you are eligible not only for the Paycheck Protection Program, but also for SBA Loan Forgiveness. All businesses should confer with their bank to discuss details as it pertains to them specifically.
Watch our video below to learn more about how this program can help your operation receive critical funding, bring your teams back to work, and keep serving your devoted customer base the meals that they love!
Estimate the potential maximum loan and loan forgiveness amount you qualify for:
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