Florida-based It Works! will not close on a $2.7 million loan from the Small Business Administration. The consumer lifestyle company, which has fewer than 500 employees, had been approved to receive the funds through the SBA’s Paycheck Protection Program, but after seeing continued stability and sales growth in April, It Works! opted out of going forward with the loan. The company had planned to use the funds while transitioning its U.S. employees from the office to working from home but chose instead to pass the opportunity for funds to small businesses in greater need during the COVID-19 crisis.
It Works! Decides Not to Close on Approved SBA Loan
