Saint-Louis restaurant owners want PPP changes
Saint-Louis restaurants call on heads of state for changes and need your help to make their voices heard
ST. LOUIS – Some restaurants in St. Louis are concerned that the Paycheque Protection Program (P3P) is not giving them the help they need.
Restaurant owners are hoping those who have shown up in their dining rooms will now show their support by calling on state leaders to make changes.
Currently under the PPP, restaurants looking to get a loan are expected to take it immediately and rehire staff – even if their doors remain closed during the pandemic.
However, owners and chefs like Little Fox’s Craig Rivard said it wouldn’t necessarily help his business.
“While the PPP is really well-intentioned, it doesn’t really solve the problems independent restaurants face,” he said. “This is a general tool that is not intended for small businesses.”
According to the Independent Restaurant Coalition, two key adjustments need to be made.
Small local restaurants want to change the creation date of a PPP loan to the first day that restaurants can fully open legally. Rivard said it would benefit him more than receiving the loan now when he cannot operate his business.
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They are also asking for maximum loan amounts to be increased from eight weeks to three months after being allowed to reopen and operate at full capacity.
Rivard closed Little Fox weeks ago and had to abandon his staff. He says these changes would help his business stay afloat once he is able to reopen the doors.
“You have more debt by the time you try to get out,” he says.
Rivard and his 16 former employees are just a small fraction of the people who could benefit from these changes. According to the Independent Restaurant Coalition, 11 million employees will lose their jobs if senators do not act.
Local restaurants are asking their customers to help them promote change by signing this petition: https://www.saverestaurants.com/take-action/
“It would be great to see more of us get involved in saving the restaurants they love,” Rivard said. “We need you to encourage your Senators.”
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