The second wave of the Paycheck Protection Program aimed to assist businesses with 20 employees or less.
We spoke with local business owners about what this aid could mean for their establishments.
One local expert John Fee explains how this second Paycheck Protection Program could determine whether some small local businesses will survive.
“Based on your size, based on the number of employees payroll, but yeah it can mean everything. It can mean being able to survive the next couple of months,” said John Fee, Franchise Owner of Lendio.
One local business owner said that the Paycheck Protection Program has enabled her to keep her staff employed throughout the pandemic.
“My goal is to utilize the money simply to maintain out employees on staff and not have to reduce any of their hours. It’s most important for us that we can keep everybody on staff until the consistency returns back to the market,” said Gisele Littrell, Owner of the Tipsy Bean.
Littrell added that the winter months have been difficult for many local business owners that were forced to close their dine in services at the end of 2020.
“The inconsistency of the market. One day we’re doing great, the next three days it’s really rough. So because of that these loans are still very necessary for small businesses,” said Littrell.
Another business owner said that he has applied to the program to help his employees.
“Our staff you know our team members that have families too at home too there depend on the help also and I’d like to just give them everything we got. You know what I mean, but there ain’t much to give and any help we can get just makes it that much better for everybody,” said Tony Ferraro, Owner of Dominick’s Diner.
Correction: Paycheck Protection Program.