Paycheck Protection Program Helps Nebraska Businesses

April 23, 2020, 6:15 p.m. ·

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Earlier this week Governor Pete Ricketts announced that Nebraska businesses have applied for over 23,000 loans through the paycheck protection program. Those loans will be worth about 3 billion dollars.


Cindy Hoage applied for a Paycheck Protection Program loan for her business, the Salon Déjà vu in Lincoln. Hoage heard about the program through her salon consulting firm.

To apply for the loan, Hoage consulted Union Bank, which handles the salon’s banking. She’s glad the loans are handled locally instead of through the Small Business Administration.

“I personally felt much more comfortable going through our banker than a website,” Hoage said. “And if we ever had to do it again I would definitely connect with our banker first.”

To apply for the loan, Hoage provided the salon’s previous year of tax returns and its articles of incorporation. Hoage was approved for a loan about a week after applying.

The salon’s 10 employees were on unemployment before the paycheck protection program. For PPP loan to be forgiven, 75% needs to be used for payroll. Hoage hopes to use the other 25% for rent and utilities at the salon.