Missoula Based Mofi News Today : Breaking News, Live Updates & Top Stories | Vimarsana

TOM LUTEY
If there’s light at the end of COVID-19 tunnel for Montana restaurants, it’s still a long way off, said Wally Yovetich, which is why the restaurant owner welcomed the latest rollout of the Paycheck Protection Program.
Hotels and restaurants receive special concessions in the latest round of the federal business loans, that if spent correctly don’t have to be repaid. Part of the COVID-19 relief package passed by Congress in mid-December, $325 billion in PPP loans became available this week, first at community investment institutions like Missoula-based MoFi, before becoming available Friday at most banks.
Restaurants and hotels get payroll coverage just two weeks shy of four months, which is one month more than other businesses. The money, said the U.S. Small Business Administration in a memo to lenders, should “help these businesses combat onerous state and local restrictions.” All businesses have to show one 2020 quarter ....

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