HOUSTON — Small businesses are starting to see the help they need.
The Paycheck Protection Program is kicking in just in time for payroll for Frenchy's Chicken.
They’ve been a staple in the 3rd ward for 51 years. But after the COVID-19 stay at home order, this business started to struggle.
“I was worried about how we would pay our employees,” said Percy Creuzot the owner of Frenchy’s.
Luckily Creuzot had managed to keep his 37 employees by reducing their hours. But he couldn’t do it for much longer. So when they offered the paycheck protection loan program, Percy knew he had to apply.
“Yup, we got approved got approved in one week,” said Creuzot.
President and CEO of Unity National Bank Lauri Vignaud says the process is pretty fast and encourages more businesses to apply.
“We are really hoping that within two to 3 days we have an approval. Within 5 to 7 days we can close. Because we understand how important it is to get the money to our small businesses as possible,” said Lauri Vignaud with Unity National Bank.
So far Unity National Bank has received about 200 applications. Many of the businesses like Frenchy’s are getting their loan this week.
“This loan is forgivable. At the end of the 8 weeks if the money is actually used to pay the salaries for their employees its 100 percent forgiven,” said Vignaud.
The process is so fast that now Creuzot has one less thing to worry about on payday.
“It gives me a lot of comfort. And guess what. I’m going to sleep well tonight,” said Creuzot.
If you would like more information about the Payment Protection Program, click here.
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