DURHAM, N.C. -- Even as Washington works to renew the PPP funding, small business owners who missed out on the first round aren't sure they'll get approved in the second go-around.
Congress launched the Paycheck Protection Program to help small business owners pay employees and other expenses while stay-at-home orders are in place. However, in less than two weeks, the $349 billion fund depleted.
Jack Wiggen applied for the loan to help his CrossFit gym after seeing his revenue drop 25 percent in recent weeks. He says he was frustrated to see the loan money run out and other well-known establishments, like Ruth's Chris Steak House, getting a piece of the pie. Wiggen's application is still pending.
"It felt like the purpose of this loan was to help small business and then when you read stories like that, it kind of just looked like banks...helping their biggest clients," he tells Spectrum News.
"You assume that, you know, there's corruption here, corruption there and loopholes intentionally placed. That just affirmed it," says Leonardo Williams, owner of Zweli's. He too applied for the loan and has yet to get approved.
Both owners say even if Washington renews the funds, they're not sure they'll get the money.
"I'm sure there are a lot more small businesses that are really big businesess that are still waiting for the same money I am," says Wiggen.
In the meantime, both men say they'll continue to rely on community support to stay afloat.