Stimulus 101 for Your Restaurant – Apply for Funds Now

APPLY FOR THE PAYCHECK PROTECTION PROGRAM TODAY – funds are available, but limited. Read below to find out more.

President Donald Trump recently signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law, making more than $2.2 trillion available to help American businesses, employees, and their families. Restaurant owners who have been impacted by COVID-19 now have several relief options available to them from the federal government. PAR is here to help you navigate the resources and solutions that are right for your restaurant every step of the way.

The Paycheck Protection Program (PPP) has the following benefits:

  • forgivable loans up to $10 million for small businesses that maintain employees and comply with the CARES Act
  • no SBA authorization required, thanks to an expedited application and closing process from SBA-approved lenders
  • no guarantee fees, credit elsewhere tests, collateral requirements, or prepayment penalties
  • deferred payments for 6 to 12 months

Use this tool to find eligible lenders near you and join our webinar at 4:30 PM EST today to learn more.

Important Programs and Dates

Paycheck Protection Program – use if you need capital to cover the cost of retaining employees

Disaster Loan Assistance – a federal disaster loan for your business, allowing you to receive funds within 3 days of your application being approved

Small Business Debt Relief Program – The SBA will cover principal, interest and fee payments for all non-disaster SBA loans for 6 months and for anyone who takes out a new SBA, 7(a), 504, or microloan within the next 6 months.

SBA Express Bridge Loans – Small businesses who currently use an SBA express lender can receive up to $25,000 to bridge the gap while they are waiting for an SBA Economic Injury Disaster Loan.

See the full list of coronavirus assistance provided by the US Small Business Administration’s loan resources page.

Additional Help for You and Your Employees

Unemployment Benefits Finder – Your employees can use this tool to find out how to apply for unemployment benefits in their state.

Families First Coronavirus Response Act – New guidelines issued by the Department of Labor to address COVID-19 related medical leave.

Check Back with PAR for Continuous Updates

PAR created the following pages dedicated to helping your restaurant and employees navigate this challenging environment – visit these resources to stay updated:

Stimulus 101

  • Get help with your loan application
  • Learn if your restaurant qualifies as a small business

COVID-19 Response

  • PAR has a COVID Relief Hotline: Call 1-680-200-9911 to voice your requests and other inquiries.
  • Find out how your restaurant can quickly implement digital ordering.
  • Use this Brink Deactivation Form if you are a Brink customer and your restaurant has closed permanently.
  • For more questions, fill out the customer request form in the middle of the COVID-19 Response main page.

PAR’s Blog

DON’T MISS OUT – APPLY FOR PPP FUNDS NOW and REGISTER FOR TODAY’S WEBINAR