U.S. Small Business Administrators visit Macon small businesses
MACON, Georgia (41NBC/WMGT) — Officials with the U.S. Small Business Administration made a stop in Macon to share the latest on the Paycheck Protection Program.
“There are 31 million small businesses in the United States,” said the Administrator for the U.S. Small Business Administration Jovita Carranza.
According to Carranza, Collins Manufacturing in Macon is one of the businesses.
Larry and Gwen Collins say their company, Greene Machine & Manufacturing Inc., has been open nearly 15 years.
Gwen Collins says when she and her husband became the President and Vice President of the company, they changed its name and added employees.
Collins says during the pandemic they needed to keep their employees, because like most essential businesses, they couldn’t close their doors.
“We do a lot of government contracting for the department of defense which makes us essential so really we have not shut down,” said Collins.
Collins says without the SBA Paycheck Protection Program, they would have to furlough employees.
“Even though we were still working and manufacturing the product. We weren’t going to get paid until we can deliver and have it inspected so that really helps provide that cushion during that time of uncertainty,” explained Collins.
According to Carranza with SBA, the administration has given away nearly $14 billion as part of its Paycheck Protection Program.
Carranza says 174,000 small businesses from California, Texas, and Georgia received that money. She says there is still nearly $30 billion available.
“The president is very, very focused on making sure we sustain our economy,” said Carranza.
According to the SBA administrator the next wave of PPP will allow small businesses to reapply, and loans will be forgivable.
“They will probably apply it in the same manner where its to retain employees, to retain their wages, continue their benefits, and also assist small businesses with their operating cost,” shared Carranza.
According to the Larry and Gwen Collins, the duo is fortunate they were able to get in on the first round of loans, receiving nearly $300,000.