The second round of PPP loans makes smaller lenders and their customers a priority

Jacksonville, Fla. — At least $25 billion has been set aside for the second round of Paycheck Protection Program loans to help small businesses, according to the Small Business Administration.

This time smaller lenders and their customers will get the priority.

Si Señor Fresh Mex, on St. Johns Bluff Road, has been in business for almost a decade.

But like many small businesses, owner Johnny Mendez, feared having to close if help didn’t come through.

“Because it’s just so hard to stay open when not having any income coming in. I lost over 65% of the business and the profit margin in restaurants is not large so every little penny counts,” he said.

His worst nightmare didn’t come true thanks to receiving a PPP loan.

“Fortunately, we have never laid anybody off even since the very first time around,” said Mendez.

But as the pandemic shows no signs of slowing down, hearing about a 2nd round of loans was the news he needed.

“I think now that we have the second one it’s going to give us that extra push that we need so we can go forward and stay open,” said Mendez.

Here’s who may also qualify for the 2nd round of loans:

Those who previously received a PPP loan and will or have used the full amount only for authorized uses, businesses with 300 employees or fewer and if you can show at least a 25% reduction in sales between comparable quarters in 2019 and 2020.

The deadline to apply is March 31.

Mendez is hoping this new round of cash will help him keep his 39 employees, as they wait for the end of the pandemic.

“I think if we work together with this program it’ll work. Now is it perfect? It’s not but it does help in certain ways,” he said.

Cox Media Group