More federal relief on the way for bars and restaurants as business picks up in Columbia

COLUMBIA, Mo. (KMIZ)

The $1.9 trillion dollar American Rescue Plan is making its way to President Joe Biden's desk for a signature, and billions of dollars of relief is included for businesses.

A large chunk of the dollars will go toward $1,400 direct payments for Americans, as well as more unemployment benefits and expanding the child tax credit.

The bill is set to add $7.25 billion dollars to the Paycheck Protection Program, which was a small business and non-profit loan program that helped pay employees since the start of the pandemic.

One new part of this bill, different than the CARES Act, is a grant program aimed at helping out restaurants and bars. The bill sets aside $25 billion dollars for the program that the Small Business Administration will manage.

President and CEO of the Columbia Chamber of Commerce Matt McCormick said,

"Especially for a place like Columbia, with all of the restaurants and live event venues we have here that means so much to our community, they have access to that," McCormick said. "It's grant dollars to help meet some needs between what's happened and where they've been hit so hard throughout this."

He is hopeful that with businesses increasing in Columbia after restrictions have started to lift and the ability of businesses to get more federal help, the community will get back on its feet.

"We're heading in the right direction," McCormick said. "It doesn't solve everything, but it continues to help bridge some of those gaps that have been created."

The owner of 9th Street Public House James Kanne said the original PPP and loans through the CARES Act saved his business. He said they are looking at potentially applying for more help, but business has been good.

"If we can keep going the way we're going, I think we've made it past that hump, I've rather other more struggling businesses have that availability to them," Kanne said.

He said being able to stay open later has immensely helped their business.

"There's definitely a lot of hope and good vibes going around right now," Kanne said. "We went through a dark time and, for me anyway, it feels a lot better."

The Operating Manager of Pressed Shana Trager said since they were able to reopen, business has actually gone up as the bar has a lot of outdoor seating. She said they likely don't need any financial relief as business continues to grow.

She said it will help to have money going into other businesses to start expanding events and other things to get more people out downtown.

"I think it will give a reprieve for the hardships that have already occurred and the people that had to be laid off, and you can start bringing those people back on," Trager said.

She said the expansion of hours definitely had a positive impact on business and hopes these federal dollars along with the relaxed restrictions keep thing on the right track.

"I know that other businesses downtown would definitely benefit from that, more jobs would be provided, and just an overall boost in the economy with the tourism that comes to Columbia," Trager said.

The president is expected to sign the American Rescue Plan into law on Friday.