This restaurant took out a $50,000 loan to support employees

Yahoo Finance Video
2 months ago
Michael Morin — along with his two brothers and their father — opened Federico's in New Jersey in 1996. During the coronavirus pandemic, they decided to take out a $50,000 loan to help their employees.
Hot Items
  • o
    what happens now, do you take another loan after this one if things don't go back to normal in two to three months. How much debt can people handle.
    To me that's questioned.
  • J
    Good news for pretty much a small family
  • L
    This virus will define our humanity. It is not about the money but the people and what we do. Thought about a GoFund me page?

    Also, I wish I was there because your food looks fantastic!
  • G
    I fear maany businesses will abuse the program and take loans that they do not need. The end result of these programs has to be that we push the deficit beyond anything that we can recover from. In the long haul we'll have to pay for these programs through higher taxes and a devalued dollar. Still, I guess we have to defer to the judgment of the administration!
  • m
    how is this a story? the gov't is literally giving out free money to pay employees
  • S
    Let's see how that goes for the long haul, big mistake
  • B
    Bullet Tooth Turkish
    I see a loan officer looking for a new job very soon.
  • D
    What are the Democrats doing during this crisis?
    They do not care about the poor sick people that are dying!!!!!!!!!!!!
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