HOLDEN, Mass. — Shake Shack has made the decision to return their $10 million dollar loan to the government. Now, small business owners in Massachusetts hope some of that relief can be pumped into their businesses. Especially, the ones who were left hanging when the emergency loan fund was tapped out.
“We’re not franchises. We’re not McDonalds, we’re not Burger King, we’re not these big companies. We feed our tiny communities that feed the other communities,” said Jennifer Carlson, owner of Simply Beautiful Skincare in Holden.
Carlson closed up her business in March and has since worked tirelessly to submit loan applications through the Small Business Association. When the SBA announced they had run out of money, she nearly gave up hope. Carlson was feeling discouraged and unclear about the future of her business and providing for her family.
“The only income right now is what the government is giving,” said Carlson.
MORE: Small businesses struggling with laying off staff as financial future seems uncertain
After Carlson heard about the move from Shake Shack, Carlson became hopeful the money would be dispersed to the smaller guys out there who she said really need it.
“If these businesses who received that extra money give it back, or some of it back, and only take what they need? Then yes, there is hope, but right now everything is a waiting game,” said Carlson.
Needham restaurant chef/owner Mike Fucci was forced to make the tough decision and lay off his entire staff because of the same hold up with federal funds.
“People like the small mom and pop shops are the ones that need that money. That’s the whole point and it’s not happening!” said Fucci.
Fucci said he was disappointed to hear some of those big businesses were able to get millions of dollars in loans from the start, but he’s hopeful the move from Shake Shack with nudge others to do the same.
“You don’t need the money, you give it back where it came from and then hopefully it gets dispersed to the right place. At the end of the day we’re the life blood of this country, not big corporations,” said Fucci.
Fucci said he was able to keep his staff employed thanks to a generous donation from a friend and customer.
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