Restaurant owners can use money from the new stimulus package to pay their employees the equivalent of the cash tips they're missing out on. Here's how it works.
Alex Lynch, a captain at the NoMad in Manhattan who wasA server delivers food to a table at a Chicago restaurant on March 16, 2020.in San Francisco, said the provision specifically mentioning cash tips is the most important part of the stimulus bill.
Einbund, who's had to lay off nearly all of his 20 employees but has kept his restaurant open for curbside pickup, said it's crucial that restaurants get these funds as quickly as possible.Survival for most of us isn't about knowing the funds might be coming, it's about getting the funds so we can start dispersing them," he said, adding that it's "crushing" not being able to pay staff and vendors.
Restaurant owners like Einbund, who've already had to lay off the majority of their employees, can still be eligible for the full loan amount — as long as they rehire all their full-time employees by the end of June.that are already barely keeping their heads above water.
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