CORPUS CHRISTI, Texas — Several local businesses have applied for Payroll Protection Program loans as a result of the pandemic.
Jeanette Cortez used to own J&G Armadillo Tax Service.
She sold it in March, but still applied for, and has been approved for a $170,000 Payroll Protection Program loan thru the government’s CARES Act.
Problem is, she still hasn’t received the loan.
“If you can no longer do taxes, how are you still eligible for the loan?" she asked. "What I tell them is I hire employees under J&G and they do the taxes.”
Cortez says she had as many as 35 employees at one point, but as of today, she’s down to just 3.
So she still operates J&G Armadillo Tax Service at the same location, but it’s her employees who are doing the tax work.
The PPP funds will be used for back pay owed to those employees.
“That money still goes to my employees for backpay," she said. "Ok. I still owe some of my employees.”
Cortez says the loan will also be used to catch up on employees’ health insurance, rent on the office, utilities, and other business-related expenses.
And if there is any loan money left over, she can hold on to it, and pay interest on it.
But she plans to give it back.
“Yes I do," Cortez said. "If there’s leftover, of course. I’m responsible for paying it back.”