Irvine-based Restaurant365 said it can help companies find lenders for SBA loans, including under the recent federal program for such funds in response to the coronavirus pandemic.
The company makes accounting and operations software for the restaurant industry; its R365 Capital effort works with Utah-based Lendio on finding funding for food service outlets.
Recent stimulus programs have included about $660 billion earmarked for SBA lending; more than half the money has been committed and news reports have noted the SBA’s most recent infusion of cash this week has produced a logjam of applicants.
The software maker said its work on this second round of the Paycheck Protection Program will fuel the company’s future client work as well, according to head of strategy and co-founder John Moody.
Go here for more updates on how OC companies are responding to the coronavirus pandemic.
For ongoing, in-depth coverage of COVID-19’s effects on OC businesses, see the Monday print edition of the Business Journal.
