Local Businesses Run Into Major Issues with SBA’s EIDL, PPP Loan Programs

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Dave Evasew, owner of Upper Merion Dance & Gymnastics Center and Upper Merion All Stars, in King of Prussia. Dave Evasew, owner of Upper Merion Dance & Gymnastics Center and Upper Merion All Stars, in King of Prussia. Evasew is one of many Montgomery County small business owners not having much luck with either SBA’s EIDL program or the Paycheck Protection Program. Image via the Philadelphia Inquirer.

Many small business owners in Montgomery County are not having much luck with either SBA’s Economic Injury Disaster Loan program or the Paycheck Protection Program, which are designed to help businesses weather the unprecedented crisis of the coronavirus, write Erin Arvedlund, Joseph N. DiStefano, Jonathan Tamari, and Andrew Seidman for The Philadelphia Inquirer.

Some, like Julie Foster, owner of Tired Hands Brewery in Ardmore, received confirmation of an EIDL grant after applying on April 1, but still does not have the cash in hand, despite the announced 3-day turnaround.

“We have not heard a response from the SBA,” she said Thursday.

Trisha Stewart, owner of Barbarella Beauty salon in Ambler, is in a similar predicament.

“I’ve called the SBA almost every day and they now just say they are unable to give any information on the status of the loan,” said Stewart on Wednesday.

Meanwhile, Dave Evasaw, owner of Upper Merion Dance & Gymnastics Center in King of Prussia, believes he is getting wrong information from the SBA.

An agency supervisor told him “the SBA would determine what I get for an advance, if we get one.” But according to the law, even denied loan applications are eligible for the advance.

Read more about the issue at The Philadelphia Inquirer by clicking here.

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