DC small business owner struggling to get PPP funds during coronavirus crisis.
The allocation of these PPP funds has been a topic of debate since the program rolled out in early April. Businesses that already had established relationships with banks got approved over others. The program has drawn criticism from lawmakers on both sides who say those that need the funding the most aren't getting it quickly enough, if at all. Thus far, the Small Business Administration has not released detailed data on the businesses receiving these taxpayer funds.
Marcel Benson, who runs Benson Watch Company out of Lanham, Md., has thrived while other small businesses struggle under COVID-19 due to his online sales.He attributes the company's success to being an online business and customers being home shopping more. His growth has been so great he opted not to apply for a PPP loan.
"It's something we're keeping our eye on," Benson said."We may be sold out before we're able to get a new inventory."
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