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FRANCHISE Business Resources

Small business resource for assistance and guidance provided by government agencies and our franchise development teams.

These uncertain times have brought challenges for all manner of small business owners, including franchisees. Huddle House is working to support our franchisees, and so is the SBA. They've already developed a number of programs and resources to aid small business owners like you -- take some time to see what's available.

Huddle House Coronavirus response

Read Press Release

Government Program Details

Cares ACT

  • Review the full CARES Act section by section here.
  • National Law Review CARES Act Review.
  • Summary of CARES ACT,  March 29, 2020 Forbes CARES Act editorial.
  • CARES Act To The Rescue… Phase 3 Coronavirus Bill Cares About Small And Midsize Businesses, Franchisors And Franchisees, March 30, 2020

SBA Loan Comparison Chart 2020

Check out the full CARES Act flow chart here.

Paycheck protection program faqs

Paycheck Protection Program FAQs for Small Businesses full details here

The program would provide cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers remain employed, as well as help affected small businesses and our economy to snap-back quicker after the crisis. PPP has a host of attractive features, such as forgiveness of up to 8 weeks of payroll based on employee retention and salary levels, no SBA fees and at least six months of deferral with maximum deferrals of up to a year. Small businesses and other eligible entities will be able to apply if they were harmed by COVID-19 between February 15, 2020 and June 30, 2020. This program is would be retroactive to February 15, 2020, in order to help bring workers who may have already been laid off back onto payrolls. Loans are available through June 30, 2020.

Where can I apply for the Paycheck Protection Program? Expand

You can apply for the Paycheck Protection Program (PPP) at any lending institution that is approved to participate in the program through the existing U.S. Small Business Administration (SBA) 7(a) lending program and additional lenders approved by the Department of Treasury. This could be the bank you already use, or a nearby bank. There are thousands of banks that already participate in the SBA’s lending programs, including numerous community banks. You do not have to visit any government institution to apply for the program. You can call your bank or find SBA-approved lenders in your area through SBA’s online Lender Match tool. You can call your local Small Business Development Center or Women’s Business Center and they will provide free assistance and guide you to lenders.

Who is eligible for the loan? Expand

You are eligible for a loan if you are a small business that employs 500 employees or fewer, or if your business is in an industry that has an employee-based size standard through SBA that is higher than 500 employees. In addition, if you are a restaurant, hotel, or a business that falls within the North American Industry Classification System (NAICS) code 72, “Accommodation and Food Services,” and each of your locations has 500 employees or fewer, you are eligible. Tribal businesses, 501(c)(19) veteran organizations, and 501(c)(3) nonprofits, including religious organizations, will be eligible for the program. Nonprofit organizations are subject to SBA’s affiliation standards. Independently owned franchises with under 500 employees, who are approved by SBA, are also eligible. Eligible franchises can be found through SBA’s Franchise Directory.

How is the loan size determined? Expand

Depending on your business’s situation, the loan size will be calculated in different ways (see below). The maximum loan size is always $10 million.

• If you were in business February 15, 2019 – June 30, 2019: Your max loan is equal to 250 percent of your average monthly payroll costs during that time period. If your
business employs seasonal workers, you can opt to choose March 1, 2019 as your time period start date.

• If you were not in business between February 15, 2019 – June 30, 2019: Your max loan is equal to 250 percent of your average monthly payroll costs between January
1, 2020 and February 29, 2020.

• If you took out an Economic Injury Disaster Loan (EIDL) between February 15, 2020 and June 30, 2020 and you want to refinance that loan into a PPP loan, you would add the outstanding loan amount to the payroll sum.

What costs are eligible for payroll? Expand

• Compensation (salary, wage, commission, or similar compensation, payment of cash tip or equivalent)
• Payment for vacation, parental, family, medical, or sick leave
• Allowance for dismissal or separation
• Payment required for the provisions of group health care benefits, including insurance premiums
• Payment of any retirement benefit
• Payment of State or local tax assessed on the compensation of employees

What costs are not eligible for payroll? Expand

• Employee/owner compensation over $100,000
• Taxes imposed or withheld under chapters 21, 22, and 24 of the IRS code
• Compensation of employees whose principal place of residence is outside of the U.S
• Qualified sick and family leave for which a credit is allowed under sections 7001 and 7003 of the Families First Coronavirus Response Act

What are allowable uses of loan proceeds? Expand

• Payroll costs (as noted above)
• Costs related to the continuation of group health care benefits during periods of paid sick, medical, or family leave, and insurance premiums
• Employee salaries, commissions, or similar compensations (see exclusions above)
• Payments of interest on any mortgage obligation (which shall not include any prepayment of or payment of principal on a mortgage obligation)
• Rent (including rent under a lease agreement)
• Utilities
• Interest on any other debt obligations that were incurred before the covered period

What are the loan term, interest rate, and fees? Expand

The maximum term is 10 years, the maximum interest rate is 4 percent, zero loan fees, zero prepayment fee (SBA will establish application fees caps for lenders that charge).

How is the forgiveness amount calculated? Expand

Forgiveness on a covered loan is equal to the sum of the following payroll costs incurred during the covered 8 week period compared to the previous year or time period, proportionate to maintaining employees and wages (excluding compensation over
$100,000):

• Payroll costs plus any payment of interest on any covered mortgage obligation (not including any prepayment or payment of principal on a covered mortgage obligation) plus any payment on any covered rent obligation plus and any covered utility payment.

How do I get forgiveness on my PPP loan? Expand

You must apply through your lender for forgiveness on your loan. In this application, you must include:

• Documentation verifying the number of employees on payroll and pay rates, including IRS payroll tax filings and State income, payroll and unemployment insurance filings
• Documentation verifying payments on covered mortgage obligations, lease obligations, and utilities.
• Certification from a representative of your business or organization that is authorized to certify that the documentation provided is true and that the amount that is being forgiven was used in accordance with the program’s guidelines for use.

What happens after the forgiveness period? Expand

Any loan amounts not forgiven at the end of one year is carried forward as an ongoing loan with max terms of 10 years, at 4% max interest. Principal and interest will continue to be deferred, for a total of 6 months to a year after disbursement of the loan. The clock does not start again.

Can I get more than one PPP loan? Expand

No, an entity is limited to one PPP loan. Each loan will be registered under a Taxpayer Identification Number at SBA to prevent multiple loans to the same entity.

What kind of lender can I get a PPP loan from? Expand

All current SBA 7(a) lenders (see list of 100 mos active 7(a) lenders here) are eligible lenders for PPP. The Department of Treasury will also be in charge of authorizing new lenders, including non-bank lenders, to help meet the needs of small business owners.

How does the PPP loan coordinate with SBA’s existing loans? Expand

Borrowers may apply for PPP loans and other SBA financial assistance, including Economic Injury Disaster Loans (EIDLs), 7(a) loans, 504 loans, and microloans, and also receive investment capital from Small Business Investment Corporations (SBICs).

How does the PPP loan work with the temporary Emergency Economic Injury Grants and the Small Business Debt Relief program? Expand

Emergency Economic Injury Grant recipients and those who receive loan payment relief through the Small Business Debt Relief Program may apply for and take out a PPP loan. Refer to those sections for more information.

Economic Injury Disaster Loans & Emergency Economic Injury Grants FAQs

These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL). To access the advance, you must first apply for an EIDL and then request the advance. The advance does not need to be repaid under any circumstance, and may be used to keep employees on payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments.

Are businesses and private non-profits in my state eligible for an EIDL related to COVID19? Expand

Yes, those suffering substantial economic injury in all 50 states, DC, and the territories may apply for an EIDL.

What is an EIDL and what is it used for? Expand

EIDLs are lower interest loans of up to $2 million, with principal and interest deferment available for up to 4 years, that are available to pay for expenses that could have been met had the disaster not occurred, including payroll and other operating expenses.

Who is eligible for an EIDL? Expand

Those eligible are the following with 500 or fewer employees:

• Small business concerns (including sole proprietorships, with or without employees)
• Independent contractors
• Cooperatives and employee owned businesses
• Private non-profits
• Tribal small businesses

Who is eligible for an Emergency Economic Injury Grant? Expand

Those eligible for an EIDL and who have been in operation since January 31, 2020.

How long are Emergency Economic Injury Grants available? Expand

January 31, 2020 – December 31, 2020. The grants are backdated to January 31, 2020 to allow those who have already applied for EIDLs to be eligible to also receive a grant.

If I get an EIDL and/or an Emergency Economic Injury Grant, can I get a PPP loan? Expand

Whether you’ve already received an EIDL unrelated to COVID-19 or you receive a COVID19 related EIDL and/or Emergency Grant between January 31, 2020 and June 30, 2020, you may also apply for a PPP loan. If you ultimately receive a PPP loan or refinance an EIDL into a PPP loan, any advance amount received under the Emergency Economic Injury Grant Program would be subtracted from the amount forgiven in the PPP.

How do I know if my business is a small business? Expand

Please visit https://www.sba.gov/size-standards/ to find out if your business meets SBA’s small business size standards. You will need the 6-digit North American Industry Classification Code for your business and your business’ 3-year average annual revenue.

How do I apply for an economic injury disaster loan? Expand

To apply for an EIDL online, please visit https://disasterloanassistance.sba.gov/ela/s/. Your SBA District Office is an important resource when applying for SBA assistance.

I am unfamiliar with the EIDL process, can anyone help me apply? Expand

Yes, SBA resource partners are available to help guide you through the EIDL application process. You can find the nearest Small Business Development Center (SBDC), Women’s Business Center, or SCORE mentorship chapter at https://www.sba.gov/local-assistance/find/.

Small Business Debt Relief Program

This program will provide immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans. Under it, SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months. This relief will also be available to new borrowers who take out loans within six months of the President signing the bill into law.

Which SBA loans are eligible for debt relief under this program? Expand

7(a) loans not made under the Paycheck Protection Program (PPP), 504 loans, and microloans. Disaster loans are not eligible.

How does debt relief under this program work with a PPP loan? Expand

Borrowers may separately apply for and take out a PPP loan, but debt relief under this program will not apply to a PPP loan.

How do I know if I’m eligible for a 7(a), 504, or microloan? Expand

In general, businesses must meet size standards, be based in the U.S., be able to repay, and have a sound business purpose. Each program has different requirements, see https://www.sba.gov/funding-programs/loans for more details.

What is a 7(a) loan and how do I apply? Expand

7(a) loans are an affordable loan product of up to $5 million for borrowers who lack credit elsewhere and need access to versatile financing, providing short-term or long-term working capital and to purchase an existing business, refinance current business debt, or purchase furniture, fixtures and supplies. In the program, banks share a portion of the risk of the loan with SBA. There are many different types of 7(a) loans, you can visit this site to find the one that’s best for you. You apply for a 7(a) loan with a bank or a mission-based lender.

What is a 504 loan and how do I apply? Expand

The 504 Loan Program provides loans of up to $5.5 million to approved small businesses with longterm, fixed-rate financing used to acquire fixed assets for expansion or modernization. It is a good option if you need to purchase real estate, buildings, and machinery. You apply through a Certified Development Company, which is a nonprofit corporation that promotes economic development.

What is a microloan and how do I apply? Expand

The Microloan Program provides loans up to $50,000 to help small businesses and certain not-forprofit childcare centers to start up and expand. The average microloan is about $13,000. These loans are delivered through mission-based lenders who are also able to provide business counseling.

I am unfamiliar with SBA loans, can anyone help me apply? Expand

Yes, SBA resource partners are available to help guide you through the loan application process. You can find your nearest Small Business Development Center (SBDC) or Women’s Business Center here.

Resources

SBA Small Business Loans Logo

Small Business Administration
Small business guidance and loan resources including the Covid-19 Emergency programs

SBA Franchise Directory

World Health Organization
For up to date information and prevention of Covid-19

Center for Disease Control
For up to date information and prevention of Covid-19

International Franchise Association

 

 

eBooks, Brochures and FAQs

SBA CARES Act

The Small Business Owner’s Guide to the CARES Act

View Now

CARES Flow Chart

The Small Business Owner’s Guide to the CARES Act

View Now

IFA Phase 3 Review

PHASE 3 CORONAVIRUS BILL - Informative Key Points

View Now

Littler CARES Act

Relief for Businesses and Unemployment Benefits

View Now

Contact Us and

Let's Have
A Chat!

Disclaimer: © 2019 Huddle House, Inc. This does not constitute an offer to sell a franchise. The offer of a franchise can only be made through the delivery of a Franchise Disclosure Document (FDD). Certain states require that we register the FDD in those states. This communication is not directed by us to residents of any of those states. Moreover, we will not offer or sell franchises in those states until we have registered the franchise (or obtained an applicable exemption from registration) and delivered the FDD to the prospective franchisee in compliance with applicable law.

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  • ABOUT US
    ▼
    • OUR HISTORY
    • OUR MENU
    • RESOURCES
      ▼
      • FAQs
      • NEWS ROOM
    • THE TEAM
  • WHY HUDDLE HOUSE?
    ▼
    • TRAINING & SUPPORT
    • WINNING STRATEGIES
    • vs. iHOP
    • vs. WAFFLE HOUSE
  • FRANCHISE OPPORTUNITIES
    ▼
    • THE INVESTMENT
    • STEPS TO OWN
    • IDEAL CANDIDATES
      ▼
      • MULTI-UNIT OPPORTUNITIES
      • INVESTOR & OPERATORS
      • COMMERCIAL PROPERTY OWNERS
      • FARMERS
      • PANCAKES FRANCHISE
      • WAFFLE FRANCHISE
  • AVAILABLE MARKETS
    ▼
    • REAL ESTATE SUPPORT
    • CONVENIENCE STORES
    • HOTEL FRANCHISES
    • TRAVEL CENTERS
  • GET STARTED
    ▼
    • APPLY NOW