SAN DIEGO (KGTV) – A two-week application window is now open, allowing so-called ‘mom-and-pop’ businesses, as well as sole proprietors and independent entrepreneurs, to apply for PPP loans.
As with all local salons, the pandemic story for Aneka Hair Studio in Hillcrest has not been pretty.
“The pandemic has been very nerve-racking,” said owner Kirlene Roberts.
Roberts has owned the individual hair studio for almost four years. She says that despite a loyal following, the pandemic has reduced her income by more than 50%. His savings were wiped out.
“It stressed me out. I definitely had a lot of anxiety,” said Roberts.
In the spring, she applied for the first round of forgivable loans under the Paycheque Protection Program.
“I did it right when it was open. I didn’t get an email or anything, and they never told me why I didn’t qualify,” said Roberts.
Fast forward to December, when a federal COVID-19 relief bill poured nearly $ 284 billion into the P3 program.
President Biden recently announced a two-week PPP window that began on Wednesday, reserved for companies with less than 20 employees.
Biden’s team has also shelled out $ 1 billion for sole proprietorships, including home entrepreneurs and beauticians, the majority of which are owned by women and people of color.
“Really happy that someone saw and noticed us and put something in place to help us, so that we can get up and stand up,” said Roberts.
Roberts will spend the next few days reviewing the PPP loan application.
“It will be a lifeline. It will help stabilize my store and stabilize my finances,” Roberts said.
President Biden’s plan will also increase the loan amount to the self-employed. Administration officials previously said loans were based on the number of employees and some received as little as $ 1.