coronavirus

Federal Coronavirus Relief Bill Offers Help to Small Businesses

NBCUniversal, Inc.

The massive coronavirus relief bill signed into law Friday by President Trump offers hundreds of billions of dollars in help for struggling small businesses.

“I’m not a big fan of government bailouts or handouts but in this situation people like us, we need it, the problem is it is too late,” Joe Hinkson, owner of the Bryan Street Tavern in Dallas said.

The Bryan Street Tavern continues to operate filling to-go orders but Hinkson said the COVID-19 shutdown has cost them hundreds of thousands of dollars and their doors will likely close in weeks to come.

“To have this be what possibly comes to our demise is extremely frustrating personally and professionally,” he said.

Hinkson and General Manage Adam Navan told NBC 5 they are still working to see how the federal money can help them but it appears likely it will only help them re-open once the shutdown ends.

“It’s really, really depressing, it’s hitting everyone hard, it is starting to get to people,” Navan said.

Under the plan, small businesses are eligible for up to 10-million dollars in loans and portions can be forgiven if they keep their employees.

At the Bryan Street Tavern, all employees have been retained but hours have been dramatically reduced.

“Across the nation, you are talking about millions of people that are out of a job right now, that probably won’t make it out of that,” Navan said.  

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