New ‘PPP Loan Forgiveness Application’ turns PPP loan into grant

Local News

CHARLESTON, WV (WOWK) – A new “Payroll Protection Payment Loan Forgiveness Application” has just been rolled out in the Mountain State.

Small business owners will be eligible for forgiveness for the payroll costs paid, and payroll costs incurred, during the eight-week covered period.

The problem though – a lot of small business owners didn’t even receive the PPP loan yet.

“We were told to wait on the loans on the grants and unemployment PUA and still, even though we’re back to work, none of that has come through,” said Elizabeth Hippchen, owner of The Parlor – a St. Albans barber shop.

Sen. Joe Manchin (D-WV) released a letter to congressional leaders a week ago today, stating: “Unfortunately, while there have been some success stories, I continue to hear from West Virginia families and small business owners, nonprofits, rural healthcare providers, veterans and front line workers who are not getting the help they desperately need now.”

Four days later, the SBA and Treasury released the “PPP Loan Forgiveness Application.”

Eleven pages long, this application can turn your PPP loan into a grant.

“I have to pay rent on my building. I have a mortgage. I have two kids,” Hippchen said.

Hippchen opened up “The Parlor” in St. Albans just months before COVID-19 hit West Virginia.

“There is no one to talk to — no one,” she said.

Hippchen hasn’t received any government aid; “and it’s a little ‘too little too late’ now I feel like,” she said. “Because we just … we were put on the back burner.”

She says it’s refreshing to hear this new phase of the PPP loan is supposed to prioritize small business owners; but, it doesn’t make up for the discouragement she feels now.

“It’s just how it was all handled,” she said. “They weren’t ready and I get that. But we were put on the back burner. Small businesses should’ve been thought of first.”

Especially considering small businesses are the lifeblood of the Mountain State.

You can apply for the PPP Loan Forgiveness here.

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