WRIGHTSVILLE, NC (WECT) – The federal paycheck protection program ran out of money, leaving many small business owners at a standstill, wondering why others got help and not.
“It’s disheartening, it’s frustrating and sad,” said Jim Radle, owner of 22 North.
Some of the Wrightsville Beach stores are closed, 22 North and Red Dogs have applied for the Paycheck Protection Program loan. But no luck.
Radle said his papers arrived on time, but Bank of America ignored them. He thinks that’s the reason he missed the opportunity before the money ran out.
“I have always been able to take care of my staff and now because of the closure everything has been taken away from me and my hands are tied,” Radle said. “We were hoping that this PPP was going to be what saved me and my employees, and that was also taken away from us. “
Red Dogs is in a similar situation. Closed and struggling to pay employees, but hoping for a saving grace. Like many others, it’s not just about doing the payroll, they’re nervous about not being able to weather the storm without help.
“We still have all the bills coming in, we still have the rent, we still have insurance,” said Anna Brothers, co-owner of Red Dogs. “So we have all the bills that we have to pay for the business, but we have no money because we are not open which puts us in a difficult position. Pretty scary because once everything is reopened , we want to be able to reopen and not be bankrupt. ”
On the other hand, Keith Norris owns Vito’s Pizza and C-Street near downtown. He got a P3 loan to keep some employees and is now looking to start offering curbside service.
“We had to change models and having no money to explore our options we would have stayed closed,” said Norris. “With this money we will be able to do what many restaurants were able to do from the start. So, I’m happy to be able to continue paying these people. “
There are similar stories everywhere where businesses still need help or are saved by the paycheck protection program. The government has said the program is out of funds at the moment, but is working on a new package that would provide an additional $ 250 billion in PPP loans.
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