Thursday, 21 January 2021

Round 2 of PPP loans available for struggling applicants

Round 2 of PPP loans available for struggling applicants

HONOLULU (KHON2) — One restaurant proprietor tells KHON2 gross sales have been down with out restaurant playing cards and with the vacation season now over — however there could also be some hope.

[Hawaii’s Breaking Information–Obtain the FREE KHON2 app for iOS or Android]

The Hawaii Restaurant Affiliation (HRA) tells KHON2 the applying course of is open for round two of the Paycheck Protection Program (PPP), bringing hope to Rick Nakashima, co-owner of Ruby Tuesday, and Gyu-Kaku, who says they’re hanging in there.

Gyu-Kaku restaurant gross sales are robust however Nakashima says that isn’t the case for Ruby Tuesday.

“Usually with 50% seating, you’ll be able to’t anticipate gross sales to be actually good. You recognize, you’re on a wait, however you solely have half the seats stuffed and that simply kills our gross sales. However past that we’re nonetheless doing okay,” mentioned Nakashima.

Nakashima mentioned, it seems many who dine in aren’t that involved about consuming inside or exterior.

“I haven’t actually seen folks simply diving into the outside seats…persons are going to come back in who need to simply nonetheless be indoors and get the air con,” Nakashima mentioned.

Nakashima believes Hawaii is on its technique to restoration regardless of the challenges.

“And the PPP loans arising and probably some restaurant assistance on the aspect, I believe we’re going to be in fairly fine condition if that every one occurs,” he mentioned.

“The most important aid that’s on the market presently, proper now that folks can apply for instantly, is the PPP mortgage second draw,” mentioned Victor Lim of the HRA.

Lim tells us candidates might qualify for a much bigger mortgage quantity. HRA understands the challenges restaurants face with a 50% cap, even limiting 5 friends to a desk.

“We’ve been speaking with Mayor Blangiardi that possibly that quantity can go up slightly bit greater that is sensible for us,” mentioned Lim.

Lim additionally hopes the restaurants cards will make a comeback, saying it was very profitable.

— to www.khon2.com

The post Round 2 of PPP loans available for struggling applicants appeared first on Correct Success.



source https://correctsuccess.com/loans/round-2-of-ppp-loans-available-for-struggling-applicants/

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