The PPP window has closed four weeks ahead of schedule as it runs out of funds as reported by the ABI.
Restaurant owners should apply quickly for then Restaurant Revitalization Fund which opened this week and is expected to go quickly. Here’s is a guide with helpful information about how to apply and what types of business requirements are necessary. First come, first served. Here is another guide about who qualifies that is a very easy read and highly recommended.
Folks have been delaying reorganization type bankruptcies to qualify for various stimulus programs. You should know that recently the rules have changed to allow stimulus and bankruptcy to co-exist. In other words, filing for bankruptcy protection will not negate applying for government aid in most cases.
If your business is suffering, please consider reaching out to us for an overview of options.