How we got $180,000 for a coffee shop that couldn’t qualify for PPP or the Restaurant Revitalization Fund
Ryan and Tara own a coffee shop by me.
They have a great cup of coffee. And killer breakfast burritos.
Throughout the pandemic they’ve done well with their awesome neighborhood vibe.
While they survived, it hasn’t been easy.
While everyone around them got PPP, PPP2, and restaurant revitalization funds, they were left out in the cold.
See, they started their business in early 2020.
Literally opened their doors days before the pandemic.
And while it seems every business in the US was able to take advantage of massive amounts of government aid, through no fault of their own, they were not.
So they did the only thing they could do – HUSTLE.
We evaluated Ryan and Tara’s situation.
In late 2020 congress passed legislation substantially changing the rules for the employee retention tax credit program.
And knowing what Ryan and Tara went through over the past year, I knew me and my team could help.
We followed our three-step process.
We found that even though their sales continued to grow, the state had applied restrictive mandates, forcing them to significantly modify their operations.
No indoor dining.
To go orders only.
Enhanced cleaning requirements.
The list seemed to go on forever.
After meticulously researching the state and local regulations, we found that Ryan and Tara’s business qualified for tax credits for ALL of 2020, and the first two quarters of 2021.
They recently received their first of multiple refund checks for nearly $80,000.
Over the past year there were times they weren’t sure if their business was going to make it.
Now they can hire more staff, invest in additional equipment, and keep making the killer breakfast burritos they’re famous for.
04. But not everyone is so lucky
Unfortunately, not every story has such a happy ending.
Ryan recently informed me some of his suppliers had gone out of business.
Covid was too much for them and they had to close their doors.
If I had been able to work with them, we could have been the difference.
If you think you don’t qualify – please reach out. There are many ways you do qualify and it can be the difference between life and death for your small business.