MACON, Georgia (41NBC / WMGT) – The Small Business Association announced a new range of PPP loans that it hopes will benefit a wider range of businesses.
The new loans are aimed at minority and women-owned companies or companies with very few employees.
Solomon Sands, the owner of Global Sole in downtown Macon, describes applying for the PPP loan as “irritating”.
“It was definitely frustrating, I’m not going to lie,” said Sands. “I’ve seen a lot of people who shouldn’t necessarily get it. We are the people who didn’t get the money it actually needs and deserve it.
Sands applied for the first PPP loan in 2020, but his company has not yet received the money. However, he remains confident that this loan will boost his business.
“It helps us take stock because we are in a product-based business,” explained Sands. “The more products we have, the more products we sell and the more money we make.”
Josh Rogers, director of Newtown Macon, says his organization appreciates that more downtown businesses can now apply for credit. He says several companies didn’t qualify for the first round of loans and have struggled through the pandemic.
“We had a couple of companies that came in and now they’re fighting,” said Rogers. “When these programs started, several companies decided not to take advantage of the benefits. Unfortunately, the way the government works is that it is opened, funded and then closed. “
Newtown offers free advice and how-to videos explaining how to apply for PPP loans.
According to the SBA, these business owners will qualify for the new loans:
- those who are behind with payments for student loans
- formerly convicted felons
- non-profit organizations
Rogers encourages all companies to apply for the loans as soon as possible.
“I’m very confident that things are looking a lot better and that we can get back to ‘normal’ soon, but there’s no way we can know for sure,” said Rogers. “Our advice is that if you are eligible for these assistance programs, you should apply.”
Application date for PPP loan
Companies with fewer than 20 employees must apply for the loan by March 9th. Other companies can apply from March 10th to March 31st.