SALT LAKE CITY (ABC4 News) – Small business owners are bracing for round two of applying for government help.
It comes as big companies reportedly received federal money meant to keep small businesses afloat during the COVID-19 pandemic.
“We officially closed on March 28th,” said Falecia Wilson. Wilson has owned and operated Salon O in Salt Lake City for the past 15 years.
She employs about 23 people. Most are full-time employees and single mothers.
“Some of those are independent contractors, some of those are staffed,” said Wilson. “Some of those are commissioned.”
Earlier this month, Wilson applied for federal help including the government’s Paycheck Protection Program of PPP for short. It was through her local lender.
“What I didn’t know is that they had been accepting applications prior to the date the government said go,” said Wilson.
The go-date was April 3rd with PPP authorizing $349 billion in forgivable loans specifically for small businesses to help pay their employees during the COVID-19 crisis.
Wilson was denied help.
“It was because they ran out before they got to my application,” she said.
This is now creating a different financial hurdle for her business and her employees.
“Now, that I didn’t get the PPP they can apply and get the unemployment, but what that does for me as a business owner is it ups my unemployment insurance.”
This aftermath makes it difficult for Wilson when she sees big businesses like Ruth’s Chris Steak House reportedly receiving millions.
“It’s the moms and pops and the little businesses in my opinion that should have been put first,” said Wilson.
On Tuesday, the Senate approved an additional $484 billion in coronavirus-relief funding with an additional $310 billion going to the Paycheck Protection Program.