Small businesses struggle on first day of Payroll Protection Program

“Hopefully we can get this cleared up, but I can’t wait weeks and weeks for it to happen.”
Posted at 6:01 PM, Apr 03, 2020
and last updated 2020-04-03 23:15:40-04

PALM BEACH COUNTY, Fla. — The launch of the Federal government’s $349 billion loan program for small businesses to help pay workers, was met with confusion and even rejection for some in Palm Beach County.

“When I put my information in it says I’m not eligible,” said David Martin, who owns Professional Dealer Services in Delray Beach and has 88 employees.

“I’m left out and it’s got to be the majority of business owners are left out,” said Martin who told us he received notice he was rejected for not having a line of credit at the bank that has his business accounts.

U.S. Rep. Brian Mast said there is no such requirement in the Payroll Protection Program approved by Congress and President Trump. He does admit banks are being swarmed with applications.

“For the banks, they’re trying to process a new loan program that they were getting new guidance on up to last night,” Mast said.

RELATED: West Palm Beach announces new program to help small businesses during economic downturn

Boca Raton Mayor Scott Singer said he is also fielding calls from small business owners about problems with the applications.

“Already I’ve received a number of calls from residents and business owners expressing concern, I’ve communicated those concerns to both our senators and the treasury department,” Singer said.

Meanwhile, small business owners are left waiting for the problems to be worked out and get money to their workers.

“Hopefully we can get this cleared up, but I can’t wait weeks and weeks for it to happen,” Marin said.