Daily Brief - April 3, 2020
Breaking news :  Overnight, banks across America received new guidelines from the Treasury Department and the SBA. The new Paycheck Protection Program forms have now been released and there is more information about additional SBA options!
 
Here is the  updated version of the application  for the PPP.
 
Note : If you already filled the old form, you still need to fill out this new one.Your bank may not yet have a process in place to implement PPP. Talk to your lender about this and try to be patient, but act as soon as possible. Remember that the PPP is the forgivable SBA loan option.
 
 SBA funding also available:

• The Economic Injury Disaster Loan (EIDL), which offers additional funding options 

• To be considered for a $10,000 advance click here

• If you are a business with an  existing SBA 7(a) loan : the federal government is covering payments on principal, interest and any associated fees that are owed on a  regular servicing status  for a 6-month period beginning with the first payment due on a loan after March 27th.

• This option is also available to  new  SBA borrowers that are using other loan programs under the 7(a) umbrella.

Note: You can potentially utilize both EIDL and PPP funds as long as they are not used for the same function, this is another avenue to access capital.

Additional questions? Contact gwenp@hospitalitymaine.com.

Call Your Lender Early and Often

Op-Ed in today's Press Herald by Steve Hewins
"Every one of HospitalityMaine’s restaurant and hotel members have either closed or are operating with skeleton crews. Anecdotal evidence indicates that hotels, some with hundreds of rooms, are booking only a handful a night, with most “guests” being first responders and those traveling for emergency needs."

"Our top priority must be the health and safety of employees and customers to shorten the duration of the epidemic and to save lives. The terrible toll that the COVID-19 epidemic is taking on Maine families across the state cannot be underestimated ... with one out of every 10 Mainers employed in hospitality, the long-term health and future of our industry is also in peril, and there is no time to waste on this."


Essential news
As of March 31, restaurants are now officially on the essential business list in Maine for t akeout, curbside delivery.

TAKE OUT REMINDER: The State of Maine allows for the sale of beer and wine in the manufacturers original package. Unfortunately that does not include liquor or beer on tap. That means growlers and cocktails to go, or the sale of full bottles of spirits are prohibited.

Review rules here: Liquor Licensing
Hotels helping out
Attention inn and hotel members: Do you have masks, gloves, shower caps stuffed in the back of a supply closet? Maine's medical community needs you.
There’s a vital shortage of Personal Protective Equipment in Maine. Re ach out to your local hospitals to help. Read this h eartwarming story about a boy's altruistic motives that netted 6,000 masks and caps in Virginia.
Send us your stories
We've heard from scores of restaurants, hotels and allied members pulling together in this crisis. From #FeedingtheFrontLines to #PayitForwardMaine we want to hear from all Maine properties that are keeping communities bright.

Please submit your new narratives to: Frontline Stories, a hub for hotel and restaurant resiliency.

These will be shared in the Daily Briefing, via social media and with the press.
Hospitality Hotlinks
The HM team is here to answer questions and concerns:

To add a colleague to the daily brief submit emails here .