2nd round of Payroll Protection Program loans starts this week

2nd round of Payroll Protection Program loans starts this week

NACOGDOCHES, Texas (KTRE) - Monday smaller businesses that did not receive a Payroll Protection Program loan the first time around could begin applying. On Wednesday those that did receive one of the original loans can begin the process. Temple Rodriguez at Greer’s in Nacogdoches is ready to get started.

“We were very excited that there was a second round. It should be easier for us to apply this time, now that we know what they need for each application. And so, we’ve got the paperwork together and we’re ready to apply.”

The Rodriguez banker will assist primarily. So can the Small Business Development Center at Angelina College. Director Dianne Amerine was a timely guest for Tuesday’s Nacogdoches County Chamber of Commerce Stakeholder Conference call.

“Let’s talk about the key components of the act,” Amerine began.

Which carried at least a full 20 minutes. Thorough information which Amerine realizes may sound a bit foreign to the average business owner.

“People don’t speak government-ese. And when you get on any website, it’s always, ‘What does it mean?.”

SBDC Business advisors are available on phone, e-mail or video conference. The goal is to take some of the burden off bankers.

“It put a burden on everyone because we didn’t have time to adequately prepare.”

Austin Bank’s regional president Francis Spruiell is appreciative.

“It has been very cumbersome working through the first and second round and I think a lot of banks have purchased some software or enlisted some outsourcing to help with this next group, as has Austin Bank.”

Lenders and facilitators expect a new group of people will make application. They’re advised to get financial records in order.

“I cannot urge enough how important it is to be ready for that,” advised Amerine.

“We’ve got the paperwork together and we’re ready to apply,” said a confident Rodriguez.

Billions are budgeted for PPP round 2, but according to advisors the money will go fast.

In addition, a PPP application can be found at this link.

Second Round PPP

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