Hope Mills burger shop rehires entire staff after second try success at Paycheck Protection Program loan
HOPE MILLS, N.C. (WTVD) -- Rustic Burger, a Hope Mills burger shop, is seeing some much needed financial relief with the Paycheck Protection Program.
Owner Jonathan Schmier, along with millions of other small business owners, missed out on the first round of loans.
The $350 billion in early April was mainly being directed towards larger corporations, leaving small shops, restaurants and businesses in desperate need of help.
"It hurt really, really bad, you know? We ended up having to come out of savings to help get some of the bills covered," Schmier said.
In addition, Jonathan and his wife, Trista, had to furlough three staff members; however, at the end of April, Congress approved $310 billion with revisions to ensure places like Rustic Burger weren't forgotten.
"The second time it opened back up, it went through pretty smoothly," Schmier said.
Battered small businesses say they have little hope for second round of PPP funds
A far cry from the technical difficulties they endured during the submission of the first application.
But, in a matter of four days, the Schmiers received the money necessary to rehire their staff and pay bills and utilities. They believe it will last them at least two months.
With Governor Roy Cooper expected to possibly begin Phase 2 on Friday, Schmier hopes some lifted restrictions will help boost revenue for his restaurant.
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