#economy Archives – PorchDrinking.com
After months of political wrangling and a stressful weekend for many small businesses, President Trump finally signed a $900 billion aid package passed by both houses of congress last Monday. The bill extends many of the measures initiated in the Coronavirus Aid, Relief, and Economic Security (CARES) Act last spring. This new legislation funds programs to help individuals and small businesses, including breweries. With many areas facing new government-mandated business restrictions due to rising numbers of COVID-19 cases, the aid comes at a critical time.
Since April, many breweries have invested heavily to maintain safety and economic viability. Changes include website upgrades for takeout orders, expanded indoor and outdoor spaces and delivery options. In addition to these costly changes, breweries have seen uneven customer traffic and revenue. Breweries hope that this new stimulus package will allow them stay afloat long enough for restrictions to ease and economic activity to pick up.
With many breweries frozen out of Small Business Administration (SBA) assistance when funding ran out on April 16, 2020, last week’s passage of the Coronavirus-relief package provided new hope. However breweries need to act fast, as all programs operate on a first-come, first-served basis. With high demand anticipated, the added funds will likely be exhausted in a matter of days.