Essential Business uses Paycheck Protection Program to Bring Back Employees

The Alonso Group, a West Virginia construction company started in 2010, was deemed essential during the COVID-19 health pandemic. However, revenue took a hit as government contracts projects were altered to abide by social distancing guidelines.  

Managing member Tony Alonso is no stranger to the Small Business Administration, as the business is in the 8(a) Business Development program and was recently named the 2020 SBA West Virginia Veteran-Owned Small Business of the Year. During this tough time, Tony checked in with SBA West Virginia District Office Senior Area Business Development Specialist, Melissa Loder, who provided guidance on how the Paycheck Protection Program (PPP) would benefit the company and its employees.

Tony reached out to a couple financial institutions during the first round of the PPP but was unable to find a bank to process the loan. When the second round of PPP funding was released Tony contacted SBA-approved lender Harrison County Bank, where the staff was very helpful and able to close the loan for the small business.

“Thanks to Andrew King at Harrison County Bank, we were able to get a Paycheck Protection Program loan to bring back two full-time employees, pay health insurance premiums for the employees, and rent and utilities,” noted Tony. “The turn-around time from receiving the forms to getting an approval was two days and then we had funds in-hand within a week of initial contact.”