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Tampa Bay businesses anxious for next round of PPP help

F45-Training-Trinity-PPP-loan.jpg
Posted at 3:50 PM, Dec 28, 2020
and last updated 2020-12-28 17:13:38-05

TRINITY, Fla. — Lili Arroyo did not plan on opening her gym in the middle of a global pandemic.

But that’s what happened to the Pasco County business owner.

“We are not where we expected to be. The projections are just way off.”

Getting F45 Training Trinity off the ground would have been challenging enough but because of COVID-19 many people who would have signed up aren’t ready to workout in a gym yet.

But she said those who do come are committed.

“It’s almost like exercise therapy for them.”

Arroyo says F45 got help from the CARES Act.

But to keep paying the bills, she is anxious to register for the latest Paycheck Protection Program that’s part of the new coronavirus relief package.

It includes $284 billion in forgivable, federally backed loans for small businesses in need.

The first round of loans turned out to be a complicated process for some.

But the hope is this time will be more streamlined.

“Just knowing that we have more help would give us the assurance that we’d be ok for a little bit longer," said Arroyo.

Once again the money must be used for payroll and operating expenses like rent and utilities.

“Even though we are not bringing in what we anticipated what we’d be bringing in, the expenses are still the same. We still have to pay the staff and the rent. It would be a big help. Ideally a release of stress," said Arroyo.

Businesses that got loans the first time are still eligible this time.

The deadline to apply is March 31.

For more details, go to https://rules.house.gov/sites/democrats.rules.house.gov/files/BILLS-116HR133SA-RCP-116-68.pdf