Cheryl Wellman is one of thousands of small business owners anxious to see if she'll get a slice of the $310 billion in new emergency aid that was just released by Washington.
- Cheryl Wellman is one of thousands of small business owners anxious to see if she’ll get a slice of the $310 billion in new emergency aid that was just released by Washington.
The U.S. government’s “Payroll Protection Program” to aid small businesses, part of an economic relief package passed by Congress that is now approaching $3 trillion, opened chaotically earlier this month and ran out of funds in less than two weeks. The Small Business Administration began processing applications for the second tranche of aid on Monday, a process that was once again beset by problems.
Integrity has some large multinational customers who are classified as essential businesses and who have continued to operate, but only five of its 20 primary customers are open for business. Wellman has laid off half of her 20 workers and said, if the loan comes through this time, she’ll bring back all of them even if demand doesn’t snap back. She said they could organize the factory and paint machines.
“I even talked to their small business banker - who said he could see our application,” Kavikondala said. “Next thing we know, the whole money is gone.”
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