04/23/2020

The Curse of the Paycheck Protection Program

Another government program that leaves people wanting more

Jamie Black-Lewis felt like she won the lottery after getting two forgivable loans through the Paycheck Protection Program.  

Black-Lewis saw the $177,000 and $43,800 loans, one for each of the spas she owns in Washington state, as a lifeline she could use for payroll and other business expenses.

She’d halted pay for the 35 employees — including herself — at Oasis Medspa & Salon, in Woodinville, and Amai Day Spa, in Bothell, in mid-March, when nonessential businesses in Washington closed due to the coronavirus (COVID-19) pandemic.

Please select this link to read the complete article from CNBC.