PPP federal aid programs open for small businesses with 20 or less employees
WICHITA FALLS, Texas (TNN) - Nearly one year into the coronavirus pandemic, help from the federal government for small businesses who are struggling continues to be in high demand.
Luckily, starting Wednesday for two weeks, the Paycheck Protection Program will open applications for places that have 20 employees or less for the next two weeks.
“We definitely will be taking part in the new round of PPP,” Shauna LaRocque, owner of CrashWorks STEAM Studio and Maker Space, said.
President Biden’s change to PPP aims to make sure aid is distributed fairly and equitably. For LaRocque, the help comes at the perfect time.
“Small businesses are continuing to fail, getting new investors is getting harder and harder so we definitely need that kind of boost,” LaRocque said.
At the beginning of the pandemic, CrashWorks took part in the first round of federal loans. So did Jessica Edwards, owner of Primp and Blow.
“We just don’t have the funds and backing that mega corporations have,” Edwards said.
The first round of money is long gone now, spent months ago on things like payroll and rent.
“Now we are getting back to the point to where we need to hire more people, we have summer coming up, spring break, but we can’t afford to so this PPP loan will definitely be a good push for us to help us continue moving in the direction that we want to be going in as we try to come back from last year,” LaRocque said.
“Things like the PPP during a time like this are crucial for a small business to survive,” Edwards said.
While this aid helps keep the lights on, it’s going to take customers being comfortable returning to shops to get businesses back on their feet.
“Be thinking of the things you loved to do before this and remember that those places are still relying on you to stay open,” LaRocque said.
Applications for the PPP loans are now open, you can apply via the link below.
If you have any questions about it, The Small Business Development Center at MSU Texas can help guide you through the process.
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