Fabian Videla
Source: Fabian Videla
In March, Fabian Videla realized that his 20-year-old construction and renovation company, Smarter Remodeling, in Jacksonville, Florida, might not survive the coronavirus outbreak.
“People started canceling sales appointments,” Videla, 49, said. “Current customers were apprehensive about letting crews in their houses. All of a sudden, it was a massive shutdown.”
Soon, he didn’t know how he was going to cover the payroll for his six workers. “We have some older employees – they need the income,” Videla said. “If they lose this job, it’s going to be hard to get someone to hire you at 67-years-old.”
Then came a ray of hope: In the government’s $2 trillion stimulus relief package, $349 billion was earmarked for forgivable loans to small businesses to keep their employees paid during the public health crisis. Videla parked in front of his computer at 3 a.m. on April 3, when banks began accepting loan applications for the Paycheck Protection…
