Paycheck Protection Program Extension Will Help KC Small Businesses

Congress and President Biden have extended the deadline for the Paycheck Protection Program, adding two more months for companies to apply. Loans can be canceled. For months, local businesses have struggled to get back on their feet. The expansion of PPP helps smaller businesses still in need. “The strength of our community depends on these small businesses and that’s what we try to support,” said Bill Esry, president of Blue Ridge Bank and Trust. of businesses get millions of loans, most of those loans have been canceled. They are aimed at companies like I360 Insurance. “Manage payroll, rent and everything and improve some things that we needed to do here as well,” said Eric Knipp, owner of I360 Insurance. “The production was hit really hard, you know,” said Nico Wiggins, owner of Nico Giles Media, is an Emmy-winning film producer based in Kansas City. The pandemic has stopped everything. The PPP money helped it restart. “So absolutely it’s right on time to get the job done,” Wiggins said. “Give these businesses a little more of a financial lifeline to hopefully succeed. The end of this pandemic,” said Ruben Alonso, president of AltCap.AltCap helps women and minority-owned businesses to get capital. They say the need is there. “The economic impact of COVID-19 is going to be felt for a long time,” said Kevin Walker of the Overland Park Chamber of Commerce. companies often do it all. They help clients and save taxes, so an extension of time can be huge. “Any time we can give them to put their claims together and submit them will be essential for them,” said Walker, workers now have until May 31 to apply For the loan to be canceled, 60% of the money must be spent on payroll.

Congress and President Biden have extended the deadline for the Paycheck Protection Program, adding two more months for companies to apply. Loans can be canceled.

For months, local businesses struggled to get back on their feet. The expansion of PPP helps smaller businesses still in need.

“The strength of our community depends on these small businesses and that’s what we try to support,” said Bill Esry, president of Blue Ridge Bank and Trust.

Blue Ridge Bank and Trust has helped hundreds of businesses secure millions of loans, most of which have been canceled. They are aimed at companies like I360 Insurance.

“Do the payroll, rent and everything and improve some things that we had to do here too,” said Eric Knipp, owner of I360 Insurance.

“The production was hit hard, you know,” said Nico Wiggins, owner of Nico Giles Media.

Wiggins is an Emmy Award-winning film producer based in Kansas City. The pandemic has stopped everything. The PPP money helped him restart.

“So absolutely, it’s right in the kind of time to get the job done,” Wiggins said.

“Give these companies a little more of a financial lifeline to sort of hopefully get through the end of this pandemic,” said Ruben Alonso, president of AltCap.

AltCap helps women and minority-owned businesses obtain capital. They say the need is there.

“The economic impact of COVID-19 will be felt for a long time to come,” said Kevin Walker, of the Overland Park Chamber of Commerce.

Small business owners often do it all. They help customers and categorize taxes, so a time extension can be huge.

“The time we can give them to put their nominations together and submit them will be essential for them,” Walker said.

Companies with 300 workers or less now have until May 31 to apply. For the loan to be canceled, 60% of the money must be spent on payroll.


Source link

About Dela Cruz

Dela Cruz

Check Also

Officials push for $ 15million fine at Edenville dam, citing ‘blatant’ disregard for security

WASHINGTON, DC – Federal Energy Regulatory Commission (FERC) investigative and law enforcement officials urge agency …