Small businesses in NJ get approved for 2nd round of PPP loans

Small business owners across New Jersey are feeling a little bit better about their situation after receiving loans via the Paycheck Protection Program.

News 12 Staff

May 6, 2020, 2:58 AM

Updated 1,438 days ago

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Small business owners across New Jersey are feeling a little bit better about their situation after receiving loans via the Paycheck Protection Program.
There were many businesses in New Jersey that did not qualify for the first round of loans. But now most are being approved.
News 12 New Jersey spoke with the owners of a North Bergen-based landscaping business and a Hoboken restaurant owner who have both gotten federal loans to help their businesses that were impacted by the COVID-19 pandemic. The owners say that the loans were deposited in their accounts over the weekend and the money will allow them to pay their staff. They say that it gives them hope that they can stay in business through the crisis.
“It gave me quite the relief…now at least I can keep my employees on. I can pay them. The money coming in is small,” says Valerie Hufnagel with Hufnagel Landscape Design and Construction.
“I think I was depressed the last few weeks, and to get that was just so huge,” says Elysian Café owner Travis Young. “Just to know we now have a fighting chance to keep our restaurant – to keep our business going – to pay the staff.”
The business owners say that they are making sure to use the money properly. The loan is fully forgivable if the owners use the fund as they are intended. Most of it must go to payroll, but they can use it on other things like utilities and rent as well.


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