Rebound Indiana: Federal loan program helps Johnson County businesses avoid layoffs

Posted at 8:29 AM, Apr 21, 2020
and last updated 2020-04-21 08:29:16-04

TRAFALGAR — A federal loan program has helped save 16 jobs at the Crowbar Restaurant and Lounge.

The owner, Brian Maschino, signed up for the Paycheck Protection Program through the U.S. Small Business Administration and received a loan in excess of $80,000, which has allowed the family-owned business in Johnson County to stay afloat.

"It is definitely a safety net," Maschino said. "We've just been struggling day by day. I feel I'm blessed because my community has supported me. I'm indebted to them, Trafalgar is a special place."

Maschino's business is among the thousands nationwide participating in the federal loan program.

In Franklin, Mutual Savings Bank, alone, helped process nearly $6 million in federal assistance through its drive-thru operation.

"The culmination of getting those funds in the hands of the people who can actually use them and help their employees and pay rent and things like that," the bank's president Dave Coffey said.

Greg Moore owns three Sylvan Centers in Franklin, Bloomington and Columbus. He said that in 15 years in business, he has never laid off an employee.

Moore is avoiding layoffs now by getting a loan for more than $30,000 to make sure his people can stay on the job.

"It gives a chance to do business the right way and not worry about payroll for a while. Hopefully, in two months we will be through this," Moore said.

Whether its tutoring or cooking, both businesses are banking on being around well after the virus.