Many industry businesses have filed for one, if not several relief programs spanning from COVID-19’s impact. The Paycheck Protection Program (PPP), which is a part of the CARES Act, received the most applications. However, all $349 billion designated to it has been used, and although Congress is expected to approve more there haven’t been any announcements of additional approved funding – so have companies who’ve applied for relief received anything yet? Window Film magazine reached out to several companies to answer just that.
There have been a few who have applied for and have received financial relief from the government. Tommy Silva, CEO and president of T&T Tinting Specialists, Inc. (T&T), applied for PPP for his business and recently received funding. “Yes we received our PPP loan [funding] on April 15, 2020 and [we received] $10,000 [in the form of an] Economic Injury Disaster Advance Loan (EIDL) grant yesterday,” said Silva.
According to Silva, T&T will be closed until at least April 30, 2020. “Our auto side was deemed non-essential, but our flat glass side, which deals with the construction industry, was classified as essential,” Silva said. “We decided to close both divisions as I felt it was the right thing to do to slow the spread of the pandemic and protect our staff and clients.”
But T&T isn’t the only business that noticed financial help arrived, as Justin Beller of Meridian Window Tint, said the businesses is not only still “up and running” but has gotten the “full amount requested” for PPP. “We applied for a small amount and was granted the full amount,” Beller said.
“Our business is still operating. We’ve applied for PPP and $1,000 per employee,” said Paul Koceja of Auto Trim of Mid Wisconsin. According to Koceja, the only government relief his business has received has been from PPP.
U.S. Tint/Shadow Enterprises’ Mike Funk has applied for a Small Business Association (SBA) grant and has found difficulty applying for PPP. “[We’re] trying to apply for the PPP but no bank will take it right now,” Funk said. According to the company, it has recently received $5,000 of the EIDL grant, which according to the company, was supposed to be $10,000.
But not all window film businesses have been recipients of financial relief as Brian Arnett, Midwest Tinting president, said his company is still waiting.
Has your company seen any government relief, if so leave a comment below, or email email@example.com.