Local businesses benefit from Paycheck Protection Program
The loan has ranged from $150,000 to $10 million
BRYAN, Texas (KBTX) - Hundreds of businesses and non-profits across the Brazos Valley applied for a loan through the Paycheck Protection Program (PPP).
The loans provide funds to help businesses keep employees on payroll during this pandemic.
Owner of George’s Paint and Body, Keeta Garrett says this loan was a blessing to their business.
“We didn’t know if we would have to shut our doors, thankfully we didn’t. It was stressful. We’re not just responsible for ourselves, we’re responsible for everyone that works here,” said Garrett.
Garrett says she applied for the loan in April and received it shortly after.
“They calculate two and a half months of payroll, so we were able to pay our payroll for eight weeks along with rent, utilities, health benefits, that sort of thing,” said Garrett.
Messina Hof Winery is another business in town that was struggling to keep employees paid. Owner Paul Bonarrigo says they tried to do whatever they could for their employees.
“We did windup furloughing a good portion of our team when it became evident that we were not going to be coming out of this very quickly,' said Bonarrigo. "
Bonarrigo says he also applied for the PPP loan in April.
“We were able to bring most of that staff off furlough and back into work. It kept us afloat during a very challenging window of time and we’re right at the end of those funds currently,” said Bonarrigo.
Bonarrigo says for businesses that are struggling across the Brazos Valley anything helps.
“Financial assistance efforts have been absolutely critical,” said Bonarrigo.
Paycheck Protection Program applications will be accepted until August 8.
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