This is a very difficult situation for many small businesses, especially breweries and brewpubs. After all, we provide community experiences, exactly what we are pretty much not allowed to do right now. In Oregon, breweries and brewpubs have become a huge part of the economy, no different from a lot of places. In the USA, the CARES act was signed last week by the president. It has some really great relief for businesses. Below are basics of what I know so far. Please share what you know, or have tried with the rest of us.

First: Money comes through the SBA. SBA loans can now go up to as much as $10 million per firm. The loans can be quickly approved by SBA banks. Hope the lines to meet with them are not overwhelmed immediately.

Second: Loan money used for certain expenses can be completely forgiven: !!. Loan money used to pay utilities, used to cover the first eight weeks of payroll, used to cover rent, or used to cover interest on mortgages will be eligible to be forgiven (if you do it right and keep track). To qualify for payroll forgiveness, there are a bunch a rules: salary/wages per employee have to be at least 75% of the rate you were paying them before. If you laid people off, you have to rehire them by June 30th to get this benefit. "Employers will not be penalized for reductions in number of employees or employee pay if they rehire workers or restore pay that was reduced prior to June 30, 2020." While interest on non-mortgage debt can be paid with loan money, only mortgage interest is forgivable. The rest of the loan has to be paid back with interest. 

There is a "good faith" certification that the borrower must make
(1) the uncertainty of current economic conditions make the loan request necessary to support ongoing operations and that they will use funds to retain workers and maintain payroll and other debt obligations, and •
(2) a borrower does not have an application pending for a loan for the same purpose and duplicative of amounts applied for or received under a covered loan, nor has it received such a loan between February 15, 2020 and December 31, 2020.

Third: The loan amount of a covered loan will be the average monthly payroll for the past year multiplied by 2.5, or $10 million, whichever is less, and does not cover anyone with annual salary greater than $100K. Interest is capped at 4%. No lender or borrower fees.

Fourth: Payments on existing SBA loans will be deferred for a minimum of six months, maximum of a year.

Fifth: There are emergency bridge loans (SBA EBL program) of up to $25k available while you are waiting for the larger loan.

Last: there are also as separate ECONOMIC INJURY DISASTER LOANS (EIDL) available as well. Up to $2million at 3.75% interest. But you cannot double dip with that and the SBA loan stuff. 

Conclusions: Make an appointment with your SBA approved lender immediately. This is money you can use right now to pay rent in April, keep employees paid for another 8 weeks.

By the way, if employees do have to be let go, the act gives an additional $600 per week to the existing unemployment insurance amount they would have gotten.