Tulsa Business Owners React To Second Round Of PPP Loans

A second spherical of Paycheck Safety Program loans, which assist companies pay their workers, will quickly be right here,

Some Tulsa eating places imagine the mortgage program is a win for small companies in all places. Nancy Bruce, the proprietor of Lambrusco’z Deli, mentioned the primary spherical of the Paycheck Safety Program saved her restaurant working easily in the course of the pandemic.

“The PPP loans gave us cash within the financial institution to know we will make payroll,” Bruce mentioned.

The second spherical of PPP loans is offered for people who beforehand acquired a PPP mortgage. PPP loans are restricted to companies that make use of not more than 300 workers and had gross receipts that had been a minimum of 25 % lower than the gross receipts in 2019

“I feel individuals are simply closing down store, afraid of what the long run holds,” Sylvester mentioned

Nevertheless, that isn’t the case for Sean Sylvester, as he plans to open one other restaurant downtown subsequent month. Sylvester owns about ten eating places. He mentioned he has about 120 workers and took benefit of the primary spherical of PPP loans.

“We had been capable of truly make use of sufficient folks to run the shifts,” Sylvester mentioned.

The second week of January is when companies ought to have the ability to apply for the Paycheck Safety Program.

 

— to www.newson6.com

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