New “PPP loan forgiveness request” turns a PPP loan into a grant
CHARLESTON, WV (WOWK) – A new “Payroll Protection Payment Loan Forgiveness Request” has just been rolled out in Mountain State.
Small business owners will be entitled to a rebate for wage costs paid and wage costs incurred during the eight week period covered.
The problem though – a lot of small business owners haven’t even received the P3 loan yet.
“We were told to wait for the loans on grants and PUA unemployment and yet even though we are back to work, none of this came to fruition,” said Elizabeth Hippchen, owner of The Parlor – a St. Albans hair salon. .
Senator Joe Manchin (D-WV) issued a letter to Congressional leaders a week ago today, stating: “Unfortunately, although there have been some successes, I continue to hear from families and West Virginia small business owners, nonprofit organizations, rural health care. caregivers, veterans and frontline workers who are not getting the help they desperately need now.
Four days later, the SBA and Treasury released the “PPP Loan Forgiveness Request.”
Eleven pages long, this application can turn your PPP loan into a grant.
“I have to pay the rent on my building. I have a mortgage. I have two children, ”Hippchen said.
Hippchen opened “The Parlor” in St. Albans just months before COVID-19 hit West Virginia.
“There is no one to talk to – no one,” she said.
Hippchen received no government assistance; “And it’s a little ‘too little too late’ now, I feel like,” she said. “Because we’ve just… we’ve been put on the back burner. “
She says it’s refreshing to hear that this new phase of PPP lending is supposed to prioritize small business owners; but, that doesn’t make up for the discouragement she feels now.
“It’s just the way everything was handled,” she said. “They weren’t ready and I understand. But we have been put on the back burner. Small businesses should have been thought of first.
Especially when you consider that small businesses are the lifeblood of the Mountain State.
You can request the PPP loan discount here.
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