NH Business Review
‘The money will keep us going,’ says one owner
May 10, 2021
‘Like all restaurants, we’ve been dramatically affected,’ says Nini Idnani, owner of Raleigh Wine Bar + Eatery in Portsmouth.
After the pandemic hit last year, Raleigh Wine Bar + Eatery in Portsmouth shut down for nearly the entire spring. The restaurant decided to hibernate in the winter and closed its doors during January, February and part of March this year. To help offset lost revenue, the restaurant applied to receive funds from the Restaurant Revitalization Fund, a $28.6 billion federal aid program.
“Like all restaurants, we’ve been dramatically affected,” said Nimi Idnani, owner of Raleigh Wine Bar + Eatery. The restaurant plans to use the funds to pay salaries and expand outdoor dining –something the restaurant now heavily relies on, as their indoor dining capacity was reduced by over 50% with appropriate social distancing.
Other lenders also have backlogs awaiting SBA approval, and more applications they could have submitted.
Chris Hurn, the chief executive of Fountainhead Commercial Capital, a non-bank lender, said he has a backlog of more than 60,000 applications pending validation from the SBA, and nearly 35,000 more that could be submitted if the portal weren t closed. Everybody s going to be waiting now to see what the SBA does, if anything, said Hurn.
One year of PPP
The PPP was established in March 2020 as part of the CARES Act in response to the coronavirus pandemic. Since its inception, the program has given more than $780 billion in forgivable loans to more than 10.7 million borrowers, according to the latest available data.
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After more than a year of a COVID-19 closure, Flix Brewhouse San Antonio told MySA.com it is hoping to reopen its location off Loop 1604 this June. The establishment was in business for only a month before it temporarily closed in March. It s opened briefly twice in the past 13 months but ultimately shut down indefinitely in November.Kin Man Hui /Staff photographer
Cheer up San Antonians on the far West Side, you may have lost Alamo Drafthouse Westlakes, but another dine-in movie theater and brewery plans on reopening in the area.
After more than a year of a COVID-19 closure, Flix Brewhouse San Antonio tells MySA.com it is hoping to reopen its location off Loop 1604 this June. The establishment was in business for only a month before it temporarily closed in March. It s opened briefly twice in the past 13 months but ultimately shut down indefinitely in November.
Inns
To be eligible, bakeries, brewpubs, tasting room, tap rooms, breweries, wineries, distilleries and inns must provide documentation with their application that on-site sales of food and beverage to the public comprised at least 33% of gross receipts in 2019. Businesses in this category that opened in 2020 or that have not yet opened must show that their original business model contemplated at least 33% of gross receipts from on-site sales to the public.
Businesses that are permanently closed are ineligible. Further, businesses that have applied for and received a Shuttered Venues Operators Grant, or have pending applications for a Shuttered Venues Operators Grant are also ineligible.
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After more than a year of a COVID-19 closure, Flix Brewhouse San Antonio told MySA.com it is hoping to reopen its location off Loop 1604 this June. The establishment was in business for only a month before it temporarily closed in March. It s opened briefly twice in the past 13 months but ultimately shut down indefinitely in November.Kin Man Hui /Staff photographer
Cheer up San Antonians on the far West Side, you may have lost Alamo Drafthouse Westlakes, but another dine-in movie theater and brewery plans on reopening in the area.
After more than a year of a COVID-19 closure, Flix Brewhouse San Antonio tells MySA.com it is hoping to reopen its location off Loop 1604 this June. The establishment was in business for only a month before it temporarily closed in March. It s opened briefly twice in the past 13 months but ultimately shut down indefinitely in November.