HARRISONBURG, Va. (WHSV) — The COVID-19 pandemic continues to affect local business owners economically as they keep a close eye on Washington.
In the late spring, the federal government passed a stimulus plan that allowed for local restaurants to receive a loan. Now as we go into the fall, local businesses are waiting on another stimulus plan to get another loan.
During the pandemic, eligible businesses could apply for a Paycheck Protection Program loan (PPP). With the PPP loan, businesses receive a check that is supposed to help keep people on the payroll.
At O’Neill’s Grill in Harrisonburg, salary employees were paid with PPP money while the restaurant was closed. This prevents the restaurant from getting loan forgiveness.
“The understanding was that the PPP was going to be able to help the employees. Well, it helped employees once you got the check and moving forward but it did nothing to our rears,” said Tim O’Neill, founder of O’Neill’s Grill.
Now as talks of a second stimulus plan have stopped for the time being, it is becoming a problem for O’Neill as he braces for the next few months.
“You don’t want to cause panic and you don’t want to say dire, but we’re probably hanging on by our fingernails,” said O’Neill.
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October 09, 2020 at 05:22AM
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Local Harrisonburg restaurant eager for a new stimulus plan - WHSV
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