The DC landmark, Ben’s Chili Bowl, was aproved for the Paycheck Protection Program loan after a public outcry regarding thier extended wait time.
What We Know:
- A WJLA reporter tweeted that the original restaurant located on U Street will receive the loan along with the other Ben’s locations in Washinton D.C.
- Co-owner Sage Ali was forced to close all other locations of the historical D.C landmark, known for feeding protestors during the Civil Rights Movement, except the U Street location, after facing financial difficulties durring the coronavirus pandemic.
- The owner of Ben’s Chili Bowl applied for the PPP loan after congress passed the $2 trillion stimulus package, which included $349 billion that was supposed to be given to small businesses on March 27th. Unfortunately, thousands of small businesses were left without any assistance when the program ran out of money by April 16th.
- It was reported big corporation such as Shake Shack and Ruth’s Chris were given millions of dollars form the program.
- On April 21st, congress passed another $484 billion stimulus bill to replenish the small business loans program. Legislation included $310 billion for the PPP program with $30 billion allocated to community lenders, small banks, and credit unions, and $60 billion for the U.S Small Business Administration Economic Injury Disaster Loan Program.
- The owner of Ben’s Chili Bowl stated the bank informed them that they didnt get the application for the loan in time for the first round of loans that was given out.
- When the news hit that the restaurant was in danger of closing because it didnt get approved for the loan, people started coming in and ordering more online. One patron even bought a $500 gift card.
- Eventually, the restaurant was aproved for the second round of the PPP loan.
- At the moment only the original location remains open for takeout and delivery but Ali stated they are going to reopen on a case by case basis.
They have not received the loan yet, but when they do the loan should cover at least two months of payroll for the four locations.