Case Study: Hotel Parq Central keeps staff employed and stays open with Enterprise Bank & Trust PPP funding

Hotel Parq Central brings back 20 employees with Enterprise Bank & Trust PPP funding

Hotel Parq Central, a locally owned hotel and event venue in Albuquerque, faced a severe challenge when the COVID-19 pandemic caused a crash in occupancy and forced the cancellation of all group bookings. This led to the layoff of 35 employees and increased operational costs. To stay open and support its staff, the hotel needed immediate funding, which it sought through the Paycheck Protection Program (PPP) with the help of Enterprise Bank & Trust.

Enterprise Bank & Trust provided critical guidance and preparation for the PPP application process, enabling the hotel to secure a loan quickly. The solution allowed Hotel Parq Central to bring back approximately 20 employees. The funding helped the hotel meet new cleaning standards and keep its doors open, leading to a gradual recovery in occupancy. Enterprise Bank & Trust played an integral role in helping the hotel put its staff back to work, creating a significant positive impact on the employees and their families.

Hotel Parq Central