You have a few options, you can cut a little "+" in the webbing and repair the frayed areas with a lighter or match.
- If doing this use caution, always use a solid backing material to cut on because cutting with the grain will cut faster than against. Due to that, when your knife goes through when cutting against the grain, it will want to plunge deep and leave a larger cut.
You can leave it as that or go a bit further and be a bit happier with your result. Go ahead and make the "+" that was cut and melted, then you head to your local home improvement store and grab an "eyelet setter kit" and set an eye in the hole to clean it up a bit.
This second option will clean it up and add durability to the new hole, as well as making it easier to thread.
Or, you could get an awl, or even a scrap screwdriver (a Philips would likely work best), and file/sand the screwdriver down to a point and heat it to cherry red, or as hot as possible and use that to melt your new hole.