U.S. Rep. Darin LaHood (R-IL) on April 15 applauded an announcement by Peoria Charter Coach, which provides charter bus services in Illinois, that a loan under the Coronavirus Aid, Relief, and Economic Security (CARES) Act is helping the family-owned company remain operational.
In fact, the company plans to rehire nearly all full-time employees impacted by the COVID-19 pandemic thanks to a loan under the Small Business Administration’s Paycheck Protection Program (PPP) authorized by the CARES Act, according to Peoria Charter Coach President and Owner Bill Winkler.
“This is exactly what we envisioned when we enacted the Paycheck Protection Program in the CARES Act,” Rep. LaHood said. “This loan will allow Peoria Charter to keep their employees working, earning paychecks and supporting local businesses during the coronavirus pandemic.”
The PPP is a $349 billion emergency loan program that provides forgivable loans up to $10 million to small businesses left financially distressed by the COVID-19 pandemic.
Peoria Charter Coach, which suffered more than $2.5 million in cancellations during the past 30 days due to the coronavirus, was forced to lay off more than 120 employees and end service between Peoria and Normal, Ill., and the Chicago area to reduce costs.
“We reached out to Representative Darin LaHood in our time of need, and he went above and beyond for our business,” Winkler said. “This loan is providing Peoria Charter the opportunity to give employees back their jobs and livelihood. Although travel is not something that is currently occurring during this pandemic, we are actively searching for opportunities to help our community.”
For instance, James Wang, co-owner of Peoria Charter Coach, recently posted a video on the company’s Facebook page showing how medical professionals might use their charter bus fleet as makeshift testing sites or mobile treatment centers.
“We are able to remove seats, provide outlets and high-speed WiFi, and storage underneath the coach for equipment or generators, all while being mobile,” said Wang.
Rep. LaHood said the PPP doesn’t just benefit the employees of Peoria Charter Coach. “It will help support businesses and workers throughout the Peoria, Normal, and central Illinois community, and I will continue to do what I can to support them as we navigate this challenging time,” he said.