Morgantown Small Business uses Paycheck Protection Program bring back Employees
Jordon Masters, owner of MicroGenesis - Grown to Matter, was faced with tough decisions to make when the COVID-19 pandemic struck in March, 2020. As a microgreen producer that sells mostly to restaurants, the business lost 95% of their sales in just three days. Masters was forced to lay 100% of his employees off that same week.
Luckily, Masters was able to work with his West Virginia Small Business Development Coach and Huntington National Bank in Morgantown to secure the Paycheck Protection Program (PPP) under the CARES act. “I found the process to get the PPP to be relatively simple, the most difficult part was gathering the appropriate data from my accountant,” stated Masters. “I received the much needed funds in 7-10 business days.”
The PPP has allowed Masters to hire back all of his employees who are still in town and hire new employees to replace those that are unable to return. While sales are still down the company was able to pivot their business and swapped out their wholesale produce model for a garden and bedding transplant model. While 2020 has been tough for the company, down 75% in sales of 2019, Masters noted the situation could have been much worse for his small business if the pandemic had happened just one week later and he wasn’t able to switch his growing model. The business is also taking this opportunity to ramp up the technology aspect of the business.