What is the PPP anyway? And will it help the hospitality industry?
We’re back with another episode of RE-Opening soon, talking to chefs, restaurateurs and those in the hospitality business about the impacts of the Coronavirus Crisis. We’ve spoken with chefs on closing down, pivoting to delivery, approaching their local government and mental health and well being in this unprecedented era. Now we chat financial healing. There are predictions that more than 75% of independent restaurants may not make it back from this crisis. With 11 million people and employed directly by independent restaurants, they serve as a hub for the community and we all need them to come back. We know the industry will beat these odds but we also know we need help and support. The government passed CAREs on 3/27. Since then the SBA and banks have been scrambling to get applications live and small businesses are trying to figure out what it all means. Our guest today is Ben McCrery, president of One Park Financial in Miami, Florida. The last name is not a coincidence; Ben is Alex’s brother. He also happens to be an expert in small business lending, and has helped secure over $7M in funding for restaurants. Ben has been instrumental in helping Tilit navigate the loans and assistance available due to the crisis.
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