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Paycheck Protection Program Is Returning for Business Owners

"If you received the EIDL Advanced Grant, Which was up to $10,000 it used to count against your PPP, essentially making it, turning it into a loan, now, it will not," said Rebecca Lobina

Posted: Jan 11, 2021 5:31 PM
Updated: Jan 14, 2021 2:53 PM

(ST. JOSEPH, Mo) Starting Wednesday, business owners will get some more pandemic relief, with the start of the Paycheck Protection Program (PPP), and for some owners, it couldn't come at a better time.

"Well, it really just help keeps all of my staff here," said Jessica Estes, Owner of AR Workshop in St. Joseph.

Estes is like many throughout the pandemic. having uncertainty about their business is an owners worst nightmare but with the PPP, it can at least prevent it.

"If there were ever to be another shutdown, or people not wanting to get out and about as much, would hurt my business," said Estes.

It just isn't Estes who has seen struggles, James Wood of Hunterland Antique Mall has also seen struggling times during Covid.

"I think the difference is, even myself had to put some money into the business to keep it afloat, and then decided that $5000 was a big difference in keeping afloat down here, and then maybe another $5000 is the influx we need to keep it open for another year," said Wood.

Some owners who were unable to get the PPP the first time around will be the first on the list this time.

There is more flexibility in what you can see the PPP money for.

"...Any suppliers that you need to pay, in your daily operations, you can certainly use the PPP for that now, there still is the requirement to utilize 60% of the ppp to payroll," said Rebecca Lobina (Small Business Development Center Regional Director)

There are also some big changes within the PPP from the first round to the second round.

"...If you received the EIDL Advanced Grant, Which was up to $10,000 it used to count against your PPP, essentially making it, turning it into a loan, now, it will not," said Lobina

Which is good news for St. Joseph business owners.

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Light snow, or flurries with a transition to light rain is possible for northeast Missouri and northeast Kansas Monday. Less than a 1/2" of snowfall is expected. A fairly substantial warm up is projected for Wednesday. Then a cold front will work its way through the region Wednesday night with cooler weather behind it for the end of the week.
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