LOMBARD, Ill. - April 29, 2020 - (Newswire.com)
Lombard, Illinois based Quest Food Management Services, Inc. has received approval for a $5M+ Payroll Protection Program (PPP) loan through the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The PPP loan has allowed Quest to immediately return over 830 Illinoisans back to work, ensuring their basic needs and livelihoods are cared for during the unprecedented school closures caused by the COVID-19 outbreak.
The COVID-19 mandated school closures caused Quest Food Services to furlough 832 of its 1130 school foodservice employees, as they are no longer able to make school meals for the nearly 150,000 students they serve every day in over 80 Illinois schools.
Every one of Quest’s locations is either completely closed, or operating at a significantly reduced capacity. Quest has nearly 100 employees still working directly on the front lines, preparing and delivering meals for families within many of the school communities they serve. Even with the measures mentioned above, Quest’s typical payroll runs over $1.1M every two weeks, and only 5% - 10% of their normal revenue coming in at this time for the emergency meal service. “There is simply no way we can afford to protect our employees’ paychecks without the PPP loan,” said Nicholas Saccaro, President of Quest Food Management Services.
Quest owes a debt of gratitude to Illinois congressional leaders and its banking partner for the passing of this bill. “Senator Tammy Duckworth, Senator Dick Durbin, and Representative Sean Casten, along with their colleagues in Washington who worked tirelessly to pass and sign this bill swiftly, which included specific relief for employees of companies like Quest. The promise to process the loans and get the money into the hands of Americans devastated by this pandemic was made – and is being met in partnership with our friends at BMO Harris. It’s been a very tough road for so many Americans – this PPP loan is the glimmer of hope we needed,” commented Quest’s CEO and Owner, Mike McTaggart.
“I’m thrilled to hear that Quest Food was able to secure a loan through the emergency Payroll Protection Program,” Rep. Sean Casten (Illinois’ 6th District, which covers Quest’s home office in Lombard, IL) said. “This is exactly why I voted for the creation of the loan program: To ensure Illinois businesses are able to keep their workers safe and paid through this tumultuous time. I’m so thankful for the work Quest Food has been doing to deliver emergency meals to families through this crisis, and even more thankful that work will be able to continue and expand with this federal loan.”
“We are doing and will continue to do everything we can to support our employees during this time. Our CEO and Owner, Mike McTaggart has given up his salary for the unforeseeable future, we have set up 6 food pantries where our employees are able to pick up groceries once per week. We have established the Quest Care Fund Program, a Go Fund Me account, and have already made more than $10,000 in disbursements to many of our employees experiencing extreme hardship,” commented Saccaro. “But it wasn’t enough. On Monday, April 20, we received word that our loan was approved, and we immediately put over 830 employees back on payroll and will continue their benefits for the next 8 weeks during this unprecedented closure.”
Related Links
https://www.questfms.com/blog/2020/3/27/quest-ceo-giving-up-salary-one-of-the-many-steps-taken-to-support-furloughed-employees
Press Release Service by Newswire.com
Original Source: Family-Owned Quest Food Management Services Brings Over 830 School Food Service Workers Back on Payroll
