In the News

HOLYOKE, Mass. (WWLP) – Businesses around the country are applying and receiving loans from the paycheck protection program.

Most businesses applied through Small Businesses Association lenders, hoping to receive funding to keep their businesses alive. A Holyoke institution. Nick’s Nest in Holyoke began as a popcorn cart almost 100 years ago. Today, it stands as a popular hot-dog based restaurant on Northampton Street.

“This is usually our busy time. Like April through august, we’re booming,” Owner, Jennifer Chateauneauf, told 22News.

But as the Covid-19 pandemic hit and businesses around the country struggled to maintain their staff and business, so did Nick’s.

“Right now, as many business we’re only doing half our business right now so our goal is to keep our employees employed so they don’t end up on the unemployment line like so many other Americans right now,” Chateauneauf continued.

Spring and summer would typically be Nick’s busiest time, with their popular ice cream sales peaking. They applied for the first round of Covid-19 government assistance through the Paycheck Protection Program but it ran out. Now they’ve applied for the second round and received $57,000 to keep their employees.

“Keeping people working was the idea. Making sure that there would be that infusion of salaries and that our plan would make up some of the difference where it was necessary,” Massachusetts Congressman, Richard Neal told 22News.

Neal says congress has authorized $660 billion in forgivable loans to small businesses to pay their employees during the pandemic. Neal added that Congress is currently working on the next round of stabilization and relief.