Small businesses hope for relief with new PPP loan funds

WINTER HAVEN, Fla .– Small businesses get another chance to make federal dollars on Monday with a new relief bill that injects $ 284 billion into the paycheck protection program.

“I applied the last time and was unsuccessful,” said Annette Parrish, a small business owner in Winter Haven. “By the time I heard from them, they told me that all funds had been allocated.”

The first Paycheck Protection Loan was offered in March 2020. Reports show that those funds were used up in 13 days. Parrish thinks she and other small business owners haven’t stood a chance.

“After looking and seeing all the big companies that got the money, I’m sure they could have found the money to bring in little people like me and others,” Parrish said.

The new relief bill approved total aid of $ 900 billion and this time small minority-owned businesses are on the front lines.

“I’m glad they give us a few days in advance when large companies apply,” Parrish said. “I am ready and ready to go in the morning at the first crack of this app.”

The program was initially limited to salary expenses, but the new PPP funding can also be spent on a range of new expenses, including operating expenses, property damage costs and supplier costs.

About Terry Simmons

Check Also

Whitmer veto bills to add multi-state licensure for nurses and psychologists

Gov. Gretchen Whitmer has vetoed two bills that would have allowed Michigan to join other …