You are dealing with enough right now trying to keep your employees at work, keep them safe, deliver food and survive a pandemic. We Sell Restaurants is committed to giving you information that is vetted, accurate and allows you to get the critical funds you need to stay in business.
On that basis, here are five things restaurant owners need to know now about the Paycheck Protection Program.
There is a short list of vetted lenders. If your bank isn’t helping, it can be tempting to follow a link or reply to an email from an unknown resource. Avoid that if possible. Try to use those you have known and trusted for many years. Unfortunately, there will be bad information, misinformation and outright bad intentions out there.
On top of that, some lenders simply can’t handle the traffic and are just not accepting any more applications. That does not inspire trust. Worse, others are saying they are handling them and then outsourcing it to a third party who is stuck in processing.
Get your documents in order. While this is not a complete list most lenders will eventually need all the following:There is, unfortunately, a lot of information and misinformation about this program. It is always a good idea to work with resources you have known and trusted for years. Contact your state restaurant associations as they should have good information. If you are members of any national organizations, reach out to them as well.
The most important thing is to be sure that any person helping you during this time of need is known to you or known to someone you trust. Unfortunately, there will be those taking advantage of the situation or with less than honorable intentions. Be careful that you don’t fall prey to these parties. Never give your tax information to an unverified source.
If you need advice and information on any of the programs available to you as restaurant owners, visit the link to the many articles on help for restaurants during the COVID19 crisis by We Sell Restaurants at this link.