The owner of the Fireside Bar & Grille, Pete Penna, was interviewed for an article in the Philadelphia Business Journal about the Paycheck Protection Program and whether it’s effective for businesses trying to survive the pandemic. From the article:
Pete Penna, owner of the Fireside Bar & Grille in Ambler, has followed the loan forgiveness guidelines for the Paycheck Protection Program almost to the letter. But unless there are more changes to the program and he can reopen his dining room and bar area soon, he doesn’t know if it was worth the time and the effort.
“If I knew we were going to be closed for three months, I might have had a different game plan,” Penna said. “I almost feel like I was sold a product on a false term. Eight weeks is not enough for my business.”
Penna said he needed the $150,000 PPP loan because he prioritized paying his employees above all else while shut down because of the coranavirus pandemic.
“But if I can’t open and then I have to take on a loan at the end of this, that’s really going to hurt,” Penna said.
Read the full article here.
Photo: Fireside Bar & Grille