COVID-19 relief options and additional resources

PPP, EIDL Helps Miami-based Concessions Entrepreneur Navigate the Challenges of Covid-19

Under Ramona Phillips leadership, Phillips Concessions has grown from a single unit food and beverage operation in 2006 to a five-unit food and beverage operation in 2020. Phillips and its partnerships operate food and beverage brands in licensed locations in Miami Dade County.  Phillips niche is operating in the urban core with an emphasis on hiring locally, socio-economic disadvantaged team members form the surrounding community and focusing on soft skills development.

The Florida State University graduate began her entrepreneurial journey into food and beverage in 2005. In 2013 Ramona stepped out and began looking for concessions opportunities on her own and was successful in securing four new locations by her own efforts from 2015-2016. She developed a great banking relationship with Florida Community Bank, now Synovus with VP Anita Aedo who really allowed her to grow her businesses so she could take advantage of the opportunities she had worked to secure for her business growth and development.

After the coronavirus pandemic hit, Ramona faced some challenges in securing additional resources to complete final payments on new store openings. Ramona was able to self-finance a portion of her expansion by her business income from one of her locations that had a solid cash flow, but with COVID impacting sales at that business by 90% loss in sales, her ability to complete the final payments have been impacted. 

The SBA and Synovus bank were instrumental in educating and preparing Ramona for the federal relief response for small businesses due to COVID19. Synovus Bank began advising Ramona and on documents that would be needed to apply for a PPP loan. In anticipation of the federal relief program, she also attended SBA South Florida hosted webinars that helped small businesses understand uses of funds and the programs intent. 

After applying for an SBA Economic Injury Disaster Loan the first week of April, Ramona was eventually able to open a new location as planned. 

In a week and a half after receipt of her PPP funds, Ramona was able to rehire 25 team members and reopen one of her locations, she had to close during the initial onset of the COVID impact. Prior to COVID, Phillips Concessions and its affiliates had over 90 employees with plans to grow and expand to 185 employees during the summer of 2020.

Company Name: 
Phillips Concessions
Miami, Florida