INDIAN HARBOUR BEACH, Fla. – The Small Business Administration resumed its Paycheck Protection Program application process on Monday.
- Tommy's Beachside Pizza is still waiting for small business loan
- The owner says the pizza shop is a couple months away from closing
- Employees have volunteered to take a pay cut
But after weeks of waiting, many small businesses that haven't received the money are on the brink of shuttering.
"They've agreed to a pay cut until the PPP comes through," said Tommy Gaffney of the 9 employees at his pizzeria, Tommy's Beachside Pizza.
Each employee volunteered to take the pay cut to keep the 8-year-old pizzeria in business, all while sales are down 60 percent.
"Trying to push as much as we can to stay open," 18-year-old employee Chris Marin said.
Marin has worked at Tommy’s Beachside Pizza for two years and is saving for college.
"Just keeping that customer base, telling people we are going to be open as long as we can," he said.
Gaffney applied for the Small Business Administration’s PPP loan in early April, but it still hasn't come through. The loan is forgivable if employers keep their workers on the payroll for eight weeks, and the money is used for payroll, rent and utilities.
Gaffney reapplied Monday.
"That got fired up again today, and I was in contact with our bank," he said. "Although I was one of the first ones, last time too."
Gaffney said he's a couple months away from closing.
And he's hopeful the loan will come soon so his livelihood will last.
"We want what's best for the country and the businesses, and right now we need the help," Gaffney said.
He is cautiously optimistic his business will get the money before this PPP loan fund runs out like the first round.