small businesses

Second Round of PPP Loans Opens Monday

Over 55,000 San Diego businesses received help from the first round of PPP loans earlier this year.

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The small business administration is set to roll out the second round of PPP loans this week. 

“The moment we’re able to do so I will definitely apply,” said Randy Smerak, owner of Solare Ristorante at Liberty Station. 

Many local business owners like Smerak are eagerly awaiting the help.

“The sales have gone down a lot,” said Smerak. “I would say, we’re probably at 50% of where we were before.”

But starting this week things could get a little easier. First-time applicants will be able to submit a PPP request Monday. Businesses that have already received a  loan will be able to apply Wednesday. For Smerak this will be round two. 

“I probably wouldn't be here without that assistance,” said Smerak “It allowed me to bring back my team, keep things running and the next round will also be a huge boost moving into 2021.”

A much-needed boost to an already struggling business that was dealt another blow this weekend. 

“Someone just very brazenly, while we were here, ran into Solare and grabbed the laptop and ran away," said Smerak. “It’'s just kind of like an insult on top of injury."

If he does get the loan, Smerak says he will use the money to bring back employees. 

The program will end on March 31 or earlier if the money runs out like it initially did during the program’s first round. Businesses should apply as soon as possible.

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