Owner Of Clockwork Marketing Services Calls For PPP Loan Preparation | Jax Daily Record | Jacksonville Daily Record
Maxine McBride has owned Clockwork Marketing Services Inc. for 25 years, surviving the economic hardships of September 11 and the Great Recession.
When the coronavirus began to impact the economy, McBride knew she needed to prepare and adjust her business while researching financial aid options.
For many of her clients, she has moved from providing traditional public relations services to helping with COVID-19-related messaging.
“Because we write a lot of cases and plan strategies, this work has really helped us right now,” said McBride.
McBride wanted to apply for the federal paycheck protection program, not because his business was immediately affected, but out of concern for what might happen in the future. She received her payment last week.
She said it was too early to estimate losses since the onset of the coronavirus, but she is making temporary changes with customers and is hoping for new business in the coming months.
In addition to McBride, Clockwork Marketing employs four full-time employees, who will remain on the payroll.
“It’s more about looking at the long term. There are a lot of unknowns, ”said McBride. “What I asked for was the PPP. It was more because of the unknowns in the future than the shock of what happened immediately. It was more about planning how I keep my team together.
His bank, BBVA, provided information on PPP loans before applications were accepted.
Once the program opened, McBride said she gathered the necessary documents to complete the application. This included payroll processing records, income tax returns, and tax forms.
“As soon as the process opened, my things came in,” she said.
McBride said putting the documents together and running his business was exhausting. She said there had been a few hiccups on the government side of the demand, but the bank helped her prepare for these.
“I had to focus on getting everything in place quickly,” she said. “But it’s also important for me to keep an eye on my employees and my customers. “
Although the government’s $ 349 billion PPP funds have been allocated, they are expected to be replenished. In the meantime, companies can apply.
McBride said it’s important to be organized and, when the application is filed, to start preparing the necessary paperwork to prove to the Small Business Administration that the funds were used for their intended purpose.
P3 funds do not need to be repaid if employees are kept on the payroll and the money is used to pay them off or to cover mortgages, rent, and utilities.
“As a small business owner, whatever your situation is, having some clarity on what’s going to happen next is really helpful,” she said. “I really read the fine print, what kind of documentation they are looking for. Hope to have it soon.