NJ Restaurant Owner Takes Out $50K Loan To Pay Employees During Coronavirus Crisis

March 23, 2020

The owner of Federico's Pizza & Restaurant in New Jersey has taken out a $50,000 loan to make sure his employees continue getting paychecks during this time of social distancing.

restaurant owner takes out loan to pay employees
Bryan Morin / Credit: NJ.com

After NJ governor Phil Murphy ordered that restaurants close their dining rooms, Bryan Morin went straight to the bank.

"My father told us a long time ago: You've got to take care of your employees first, because without those employees, you don't have a business at all," Morin told NJ.com. "I definitely owe them a debt -- even if it means I might go into debt."

Morin, who owns Federico's in Belmar, NJ, took out a a $50,000 line of credit, and made his 20 employees a promise: No matter what happens over the next two months, they would still receive a paycheck.

"I have a lot of friends who work as bartenders and waiters, and they have no idea what they're going to do with themselves," said Chelsea Phillips, the manager at Federico's. "When I tell them (what Morin did), they want to know why I'm so lucky to work for the greatest people."

Morin says he isn't worried about shutting down. He hopes the summer months bring more tourists to the Jersey Shore, but even as he keeps his fingers crossed, he understands that might be wishful thinking given the projections.

Frederico's is still open daily for pick-up and delivery.

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