TEXAS - The head of the U.S. Small Business Administration Jovita Carranza visited the Dallas-Fort Worth area yesterday to recognize two local small businesses for their drive and efforts during the time of reopening.
Administrator Carranza visited Eno’s Pizza Tavern where she acknowledged the hard work restaurants are putting into adapting to reopen. Located in Dallas, Eno’s Pizza Tavern received a Paycheck Protection Program (PPP) Loan which was a lifeline to keeping Eno’s Pizza Tavern employees on the payroll, especially as the restaurant adapts through the phases of reopening.
Later during her visit to Dallas, Administrator Carranza visited another PPP loan recipient. On-Target Supplies & Logistics employs over 200 full-time people and additional part-time employees throughout the year. It provides supply chain management services and outsourced logistics to Fortune 500 companies.
“I’m thankful to be able to come to Dallas and see firsthand that the PPP is meeting its mission to keep employees on the payroll,” said Administrator Carranza. “Both Eno’s Pizza Tavern and On Target are successful American small businesses who are strengthening our economy and giving hope in our communities by supporting their employees.”
“We needed the PPP to help us get through the uncertainty caused by the difficulties of the current economy,” said Tré Black, President of On-Target Supplies & Logistics. “Because of the PPP, On-Target people are more confident about the days ahead. We have a greater sense of security and trust in our ability to work through what may be more difficult days ahead. Whereas the funding does not afford individual employees of our company with a job guarantee, the program has given our entire workforce the stability, and to some degree, peace of mind.”
“The PPP provided us some stability in these very turbulent times as an industry, community and country,” said Shane Spillers, owner of Eno’s Pizza Tavern. “These programs allowed us to keep people employed as much as we can while still making sound business decisions daily.”
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
About the Paycheck Protection Program
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. Borrowers can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Borrows should consult with their local lender as to whether it is participating in the program.