YOU’RE ALL GETTING PAID
I think this has got to be the best post I’ve ever had a chance to write. I’m so psyched.
When it first became clear we were going to be closed more than 1 day my instant concern was our employees. Not only do we need them to operate going forward, I laugh with them, cook with them, work hard with them, and have developed strong bonds. And I admire what they do everyday.
We’re proud of what we pay, it’s above industry and we keep raising it, but it’s never as high as we’d like. I know many of our employees live from paycheck to paycheck, as does a large portion of America. And I hated the thought that 128 of my employees would be facing issues about how to pay rent, buy food, etc.
One of my Board Members suggested we pay everybody. Pay everybody? Pay everybody.
But how on earth could we do that!?! was my immediate response. Our 7 day payroll (my fear for how long with would last) is over $25,000. And of course with restaurants shut down we have no money coming in to pay anybody.
I turned to Cambridge Trust a few days ago, a local bank with which we’ve developed a relationship. They have drafted a loan for us for $25,000 that we will use to pay everybody. That’s right, this scary time is turning into a sort of vacation. Sort of. We’re figuring out particulars (how we figure out how much to pay each employee, who is eligible, etc.). But the idea is to make everybody whole. We’ll be able to cover through 7/22/13 with the current amount. I’m hoping with the help of the Department of Health we’ll have this all figured out and be ready to open safely by that date. Fingers crossed!!! We have a big meeting tomorrow.
Congrats everyone, so happy we could figure out how to do this! And thanks Cambridge Trust! We’re all going to return to work soon to make sure this isn’t a risky loan!!