How the Payment Protection Program is Helping DC Businesses Stay Afloat
The coronavirus pandemic has been an unprecedented hurdle for countless small businesses in the United States, causing business owners throughout the country to pause their operations and endure a drastic loss in revenue. At DC Trails, we recognize our responsibility as a transportation business to prioritize the health and safety of our passengers by practicing safe social distancing, which is why we have been forced to temporarily pause our services.
Our team is grateful for the Paycheck Protection Program, which was recently passed by the House of Representatives in an effort to help small businesses survive through various loan forgiveness policies, however it is difficult to say if these efforts are enough.
What does the Payment Protection Program entail?
When the Payment Protection Program was first created, small businesses were able to benefit from loan forgiveness extending up to eight weeks, however due to the persisting public health crisis, the House of Representatives extended this grace period to 24 weeks. Additionally, this legislation allows businesses up to one year before rehiring employees. Unfortunately, tour and transportation businesses such as DC Trails and our partner, Best Bus may not qualify for all of the aforementioned attributes of the Payment Protection Program.
At DC Trails, we pride ourselves on offering excellent services and comfortable transportation with our top-grade fleet of charter busses. Unfortunately, these vehicles are difficult to maintain without a source of revenue, and we are unsure of when the global effects of the coronavirus pandemic will subside. Although loan forgiveness programs can be helpful to all businesses, transportation and tourism companies are continuing to suffer due to loan qualification requirements and an unforeseeable reopening.
DC Trails Is Here
Our DC Trails team would like to take a moment to thank our frequent passengers and assure you that we will be taking all necessary precautions to protect your health and safety once we are able to reopen our doors. Start planning your post-isolation holiday with us today by exploring our chartered tours and stop locations. For more information about our regular services, visit our FAQ page!