The COVID pandemic has impacted virtually every business in every category, but none so much as the hospitality industry. Restaurant owners and lodging operators are facing the most daunting challenge in anyone’s memory, and with many outdoor dining spaces closed for the winter, the forecast is even more uncertain.
My heart breaks every time I see another restaurant or lodging establishment close its doors for good. I think of the jobs that are lost and the dreams that are dashed. I think of the communities that are diminished in so many ways.
The Oregon Restaurant & Lodging Association doesn’t want to see even one more of our members shut down—so we’ve launched a program that comes to the rescue of Oregon restaurant and lodging establishments.
It’s called the COVID Cash Lifeline™, and it’s designed to deliver exactly what our state’s restaurants and lodging establishments need to recover and return to business as usual.
COVID Cash Lifeline™ Part 1: the Easy ERC™
The Employee Retention Credit (ERC) is a federal initiative designed to help entrepreneurs. Eligible businesses retroactively qualify for up to $26,000 per W-2 employee and will need to prepare and file amended Form 941s.
Sound complicated? Most small business owners think so—which is why less than 25 percent of eligible businesses have filed for the potentially hundreds of thousands of dollars in COVID relief for which they qualify.
And it doesn’t help that some of the CPAs who work for restaurant and lodging operators are unaware of the ERC or don’t understand the eligibility requirements.
The Easy ERCTM is the answer.
With the Easy ERCTM, busy business owners can turn to our COVID Cash Lifeline™ partner Adesso Capital to file for their ERC funds.
Adesso’s team of tax experts can estimate how much ERC money a restaurant or lodging operator qualifies for with a ten-minute phone call to our COVID Cash Lifeline™ ERC Support Center at 888.856.0630.
Then the Adesso team handles the entire complex and time-consuming filing process. They take care of all the ERC paperwork while business owners focus on running their establishments. Then Adesso monitors the progress of the filing until the owner receives their funds.
Adesso has helped thousands of restaurants and small businesses across the U.S. secure tens of millions in ERC funding, with an average of $125,000 in ERC assistance per filing.
What kind of difference would a cash infusion of $125,000 make for a struggling restaurant or lodging establishment?
COVID Cash Lifeline™ Part 2: Immediate Cash
Financing is so hard to come by for restaurant and lodging operators. Big banks turn down 75 percent of loan applications for small businesses. And even those entrepreneurs fortunate enough to get financing have to wait. And wait.
Now the wait is over.
Working with Adesso Capital, Oregon restaurant and lodging operators can get the cash they need in as little as two days. Adesso Capital offers innovative business financing options and preferred rates from its network of lending partners.
And while restaurant and lodging operators await the receipt of their ERC funds, they can get a head start on that money with an ERC advance loan. Business owners can borrow against their anticipated ERC relief funds and put their money to work right away.
COVID Cash Lifeline™ Part 3: Concierge Treatment
I can’t think of anyone who works harder than a restaurant or lodging operator. They’re at it 24 hours a day, seven days a week ensuring our favorite dish tastes just the way we like it, our evenings out are magical, and our overnight stays hit the mark.
It’s payback time.
Our COVID Cash Lifeline™ gives these hard-working entrepreneurs the personal attention and responsive service they can’t get from big banks or traditional lenders. The tax experts and lending professionals at Adesso Capital will show them the four-star service they deserve but so rarely receive.
Our Commitment to Oregon Restaurant and Lodging Operators
Every restaurant and lodging operator is a hero of mine.
It’s time these hard-working folks had a hero of their own, and our COVID Cash Lifeline™ is a good place to start.
We’re going to keep at it so we can ensure that Oregon’s restaurant and lodging establishments come through the pandemic and come back stronger than ever. | Jason Brandt, President & CEO, Oregon Restaurant & Lodging Association
COVID Cash Lifeline™ and Easy ERCTM are trademarked by Adesso Capital. AdessoCapital.com/ORLA
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