More financial relief is on the way to aid struggling small businesses as many remain temporarily closed due to the COVID-19 pandemic, but will it be soon enough for small businesses that missed out on the first round of Paycheck Protection Program funding?
NOW TO REBOUNDKANSAS CITY --AND GETTING ANSWERSON PROMISES MADE BYPROGRAMS AIMED ATHELPING YOU BOUNCEBACK FROM THE IMPACTOF THE CORONAVIRUS.PART OF THE MASSIVEFEDERAL RELIEF BILL SETSASIDE MONEY FOR SMALLBUSINESSES.WE'VE BROUGHT YOUSTORIES OF SMALLBUSINESS OWNERS WHOHAVE APPLIED FORVARIOUS FINANCIALASSISTANCE WITH NOLUCK.41 ACTION NEWSREPORTER NICK STARLINGTALKED TO A COMMERCIALLENDER FOR TIPS TO HELPBUSINESSES WITH THEIRAPPLICATION.NICKWITH EACH PASSING DAY-SMALL BUSINESSES AREMAKING TOUGH DECISIOAS MANY OF THEM ARETEMPORARILY CLOSED.A MAJORITY HAS YET TOSEE A CENT COME IN-HOPING THEY'LL GET SOMEFINANCIAL HELPSOON.Casey Simmons, Co-owner, of AStore Named Stuff.It's disappointing that the biguys or big gals once againgot in front of the line and Idon't think that's what wasintended.FOR A BUSINESS THAT'SBEEN A STAPLE IN THEBROOKSIDENEIGHBORHOOD FOR THEPAST 25 YEARS-THIS IS 'ASTORE NAMED STUFF'S'BIGGEST HURDLE.Time is of the essence in asituation like this because itscash flow, we need the moneynow to be able to do what wedo to stay in businessTHEY APPLIED FOR THEECONOMIC INJURYDISASTER LOAN-WHICHCAN HELP BUSINESSESTYPICALLY UP TO 10-THOUSAND DOLLARS-ANDTHE PAYCHECKPROTECTION PROGRAM.Casey Simmons, Co-owner, of AStore Named Stuff.The process of applyingwasn't a big deal but we haveseen nothing since.WE SPOKE TO ACOMMERCIAL LENDER ATEQUITY BANK ABOUT HOWBUSINESSES SHOULDAPPROACH APPLYING FORTHESE LOANS.Alex Goodpaster, VP ofCommercialLending at Equity BankThe paycheck protectioprogram was geared forcompanies who had employeenumbers up to 500 and sowould consider that thesmaller business communityand that is going to be themost beneficial for the mostcompanies.AT EQUITY BANK-THEY'VEPROCESSED 16-HUNDREDAPPLICATIONS FOR SMALLBUSINESSES SO FAR-ANDSAYS THE PROCESS ISSMOOTHER NOW THAN AFEW WEEKS AGO.11:31 Alex Goodpaster, VP ofCommercial Lending at EquityBankOne of the misunderstandinon a lot of people's part whenit first came out they heard,you can pay your rent,utilities,things like that which are truebut you can't put thosenumbers in your calculation.THE ADDITIONAL MONEY ISTHE RELIEF MANYBUSINESSES NEED-BUT RIGHT NOW-SOME ARESTILL LEFT IN LIMBO.With a little bit of support anda wing and a prayer, heremaybe we'll all just make itthrough.REPORTING IN KANSASCITYNICK STA