SBA chief calls for more P3 relief on Central Florida trip
MAITLAND, Florida – US Small Business Administration chief Jovita Carranza was in central Florida on Thursday to visit businesses that were able to survive during the pandemic thanks to the Paycheck Protection Program. But not all companies that have received PPP loans have fared so well, and Carranza said she is urging Congress for more relief.
What would you like to know
- US Small Business Administration chief Jovita Carranza was in central Florida on Thursday
- She was able to visit companies that received PPP loans
- Carranza said she was pushing Congress for additional P3 funds
Genesis Water Technologies, based in Maitland, designs systems to deliver clean water to areas where it is not available, whether it is a campground or remote areas in foreign countries where the lack of infrastructure makes clean water difficult to find. When the pandemic hit, everything slowed down at GWT, forcing the local business to make tough decisions.
“Our whole manufacturing process had to change due to social distancing,” said Leonard Abraham, spokesperson for GWT. “Incoming inspections, cleaning of equipment because we do not know if our suppliers meet the same requirements. “
The company got a PPP loan from the federal government and Abraham said that money allowed the company to keep more than half of its 200 employees and continue working on a new product line that was in the works before the start of the pandemic.
“What we did was take some of the resources and instead of letting them go, we said, ‘Here, work on this project and probably in the next month, we’re going to see some of our new products come out. “,” Abraham said.
But not all companies that have obtained PPP loans are doing so well.
Spectrum News first spoke to Julie Casey, owner of The Outpost, in April. That’s when Casey got approval for a PPP loan for his then College Park restaurant. She said the loan of almost $ 40,000 was enough to pay the employees for a few months, but that was it. She had to close the once thriving restaurant by the end of June as business never fully returned to pre-pandemic levels. And she couldn’t open a new location that was already under construction in Maitland.
Carranza said she is urging Congress to approve more funding for the P3 program. She stopped in Maitland to visit GWT as part of a tour of some of the companies that have received PPP loans.
“I’m trying to get a program that will reallocate that $ 130 billion to the small business sector, as well as add additional funds,” Carranza said. “So we are impatient, we are all eager to see this resolved because small businesses need another lifeline.”
SBA officials said that in Florida, PPP loans were administered to more than 430,000 small businesses totaling more than $ 53 billion in loans.