A weekly $600 federal supplement for all jobless workers is scheduled to end this month. The Paycheck Protection Program, an effort designed to preserve jobs by offering forgivable loans to small business, was recently extended through October.
Liz Etheredge, the chief executive of Mecklenburg Paint in Charlotte, N.C., said the federal loan made it possible for her to keep workers employed.
The spring paint season was just starting when the pandemic hit. “Oh, gosh, things just pretty much stopped,” said Ms. Etheredge, whose company also handles property management.
Initially she helped most of her 30 employees apply for unemployment benefits, which she said was time consuming and confusing. “One day I waited on hold for three hours to reach somebody” with the state to work out glitches with benefit applications, she said, “and then another day I waited two hours.”
She applied for a Paycheck Protection Program loan, hoping to avoid permanently laying off painters.
“It came just in time,” said Ms. Etheredge, who was able to avoid using up her savings.
She has put everyone back on the payroll through the use of her loan money, so she expects that the entire amount will be forgiven.
Article source: https://www.nytimes.com/2020/07/09/business/economy/unemployment-claims-coronavirus.html
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