PALM BEACH COUNTY, Fla. — Small businesses across the county and South Florida are attempting to apply for relief loans with the U.S. Small Business Administration.
A Paycheck Protection Program started Friday and many business owners reported problems with banks being unable to filed their applicants.
During Monday’s coronavirus task force briefing, President Donald Trump was questioned about the issues with the SBA and the new PPP.
“It has only been going for a couple of days and it has really been performing well, a couple of little glitches, minor glitches, and have already been taken care of, so they say,” Trump said.
Peter Bonnaue represents dozens of businesses in Palm Beach County and said his clients are unable to get SBA loans.
“I have had several clients apply and none of them have gotten any money,” he said. “I have some going on two weeks with nothing.”
Bonnaue said the new PPP has overwhelmed banks and business owners can’t find a bank to start an application with.
“It's not a matter of the funds being available or anything like that,” he said. “The local banks, the big banks, they are not even allowing the clients to apply.”
He recommends his clients keep trying and to know what documentation they need with the bank for which they are going to apply help speed up the process.