On April 3, Johanna Mann sent in her application for a small-business loan to keep her pie shop in Amherst, Ohio, afloat during the coronavirus pandemic. Feeling hopeful, she shared the good news with her workers.
“I said, ‘It’s going to be OK,” Mann, 60, said. “I’m going to get this Paycheck Protection Program.”
That hasn’t happened.
Nearly two weeks later, Mann is still unable to tap into the $349 billion pot of money Congress earmarked for forgivable loans to small businesses hurting amid the public health crisis. The problem: Her bank, Buckeye Community Bank, told her it isn’t participating in the government’s program. And finding a bank that will lend to someone who’s not already a client has proven difficult.
Johanna Mann has tried to apply for a small business loan to keep her pie shop in Amherst, Ohio afloat during the coronavirus pandemic. She can’t find a bank to give her one.
Source: Joe Pies
Making matters worse, the first-come, first-served program may run out of…
