Congresswoman Manning Announces Additional COVID-19 Small Business Relief
Winston-Salem, N.C. – Today, Congresswoman Kathy Manning (NC-06) hosted a press conference to announce federal resources available to small businesses during the COVID-19 pandemic. The press conference was hosted at Moji Coffee, a coffee shop with a mission to employ adults with intellectual and developmental disabilities, located in downtown Winston-Salem. At the start of the COVID-19 pandemic, Congress passed the CARES Act which created the Paycheck Protection Program (PPP). Moji Coffee was a recipient of PPP funds in 2020 and 2021, which allowed them to keep their doors open and their employees on payroll.
As the pandemic persisted, Congress passed the American Rescue Plan in March to get additional help to small businesses and individuals in need. On Monday, May 3 the Small Business Administration began accepting applications for the Restaurant Revitalization Fund which is a $28 billion fund dedicated to helping restaurants and eligible businesses in need. The Restaurant Revitalization Fund was created as part of the American Rescue Plan. Earlier this year, Congress also passed the Paycheck Protection Program Extension Act which created a two-month extension for the PPP loan application period, now available until May 31, 2021. Congresswoman Manning voted to pass both American Rescue Plan and the Paycheck Protection Program Extension Act into law.
“Throughout the pandemic, small businesses have worked hard to adapt to changing safety protocols, to keep employees on payroll and to remain open. Thanks to the passage of the American Rescue Plan, more help is here,” said Congresswoman Manning. “The Restaurant Revitalization Fund will provide assistance to restaurants and eligible businesses to ensure that they can keep their doors open. Additionally, with the passage of the Paycheck Protection Program Extension Act, small businesses have until May 31 to apply for funding. If we’re going to build back better, we mustensure that our nation’s small businesses have the resources and support they need to reopen, create jobs, and grow our economy.”
"We exist to provide meaningful employment. Without employment, we do not have much of a program and are not the same Moji,” said Natalie Hughes, Moji Coffee General Manager. “The PPP funds allowed us to put people to work from home and bring them back to work much faster than expected, allowing us to continue to fulfil our mission. Without the funds to back salaries, our staff of individuals with diverse abilities would be missing more time of enrichment and more opportunities to earn income, train, and develop themselves as individuals in the workforce."
"Our small businesses are a vital and vibrant part of our community. Supporting them is essential to our pandemic recovery and our economic growth,” said Calvin McRae, Vice President of Public Policy, Greater Winston-Salem, Inc. “We are encouraging small business owners to take advantage of the many local and state resources available, in addition to federal resources including the Paycheck Protection Program and Restaurant Revitalization Fund, to keep their businesses and our community strong. "
About the Restaurant Revitalization Fund:
The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.Learn more about the eligibility requirements here.
For more information about the extended deadline to apply for PPP funds, please visit https://www.sba.gov/funding-programs/loans/covid-19-relief-options/paycheck-protection-program.