TENAFLY, New Jersey (WABC) – The second round of the Payroll Protection Program, or PPP Stimulus Fund, to help businesses goes much more smoothly than the first round when it ran out of money within two weeks .

Over the weekend, the request and instructions on how to get the loan canceled were released.

Over $ 500 billion has been distributed to date, and 7 On Your Side has helped a small retailer and their bank agree and secure their loan.

“I have my insurance, my payroll taxes, the rent I have PSE & G, the phone, the fees, my bills are piling up, I had an appointment with my landlord and I have no answers, “said Gina Curko.

Curko’s boutique, See Saw in Tenafly, is full of spring and summer fashions that all faded when non-essential retail stores were closed in March after the owner had already invested in items for the new season.

“I have to pay all of my salespeople, which is a lot of money,” said the store owner.

On the day of 7 On Your Side’s visit, she was waiting for a representative from her bank to determine her PPP loan status. She says she applied for the SBA-backed lifeline on the program’s opening day on April 3.

“I have been in business for 17 years, I have been doing business with the same bank for 17 years, I just want to get what was promised to me so that I can maintain and come back and employ my people who have been with me for so long so long, ”she said.

But the Bank of America representative never showed up, leaving the retailer on the sidelines.

“It’s unbelievably anxious to desperate to express your anger at your family without knowing what’s going on in my business,” said Curko.

The initial $ 349 billion injection Congress approved into Paycheck Protection in late March to help small businesses like Curko’s survive ran out of money in two weeks.

When 7 On Your Side verified See Saw’s status, Bank of America said it was all top to bottom.

Bank of America said 300,000 applications were received in the first round. Some PPP applicants have been disqualified for errors such as using the wrong form or submitting incomplete information.

After 7 On Your Side intervened, the store’s bank saved its refusal, processed its loan, and the funds, approximately $ 34,000, were deposited directly.

MORE CORONAVIRUS COVID-19 COVERAGE

COVID-19 Help, Information and Resources

UPDATES
New York State
Connecticut
New York City

Long island
Mourning the Lost: Residents of the Deceased Three States

RELATED INFORMATION
Share your coronavirus story with Eyewitness News
Stimulus Control Scams and Other Coronavirus Hoaxes
Coronavirus prevention: how clean are your hands?
Coronavirus Disease Control and Prevention Centers
Coronavirus cases by NJ County

Copyright © 2021 WABC-TV. All rights reserved.


Source link

About The Author

Related Posts