Nevada businesses large and small are struggling to make ends meet during the COVID-19 closures but Nevada Senator Catherine Cortez-Masto says financial help is already flowing into the Silver State with extra assistance in the pipeline.
BILLIONS OF DOLLARS HAVE BEENPROMISED TO KEEP SMALL BUSINESSCHECKS..GOOD EVENING I'M TODDQUINONES..TRICIA HAS THE NIGHT OFF..13 INVESTIGATIVE REPORTER JOEBARTELS IS LIVE NEAR EASTERNAND SERENE..AND JOE..YOU'RE GETTING SOME ANSWERSFROM NEVADA SENATOR..CATHERINE CORTEZ- MASTO..WE DID TONIGHT FROM WASHINGTOND-C- ..WE ASKED HER ABOUT..SMALL BUSINESSES..LIKE GREEN CLEANERS..HERE IN THE SOUTH VALLEY..THAT..RIGHT NOW..
ARE STRUGGLINGTO MAKE THEIR BILLS.BUT THE GOVERNMENT PROGRAMS..LIKE THE PAYCHECK PROTECTIONPROGRAM.ARENT MEETING THEIR NEEDS.IT'S AN ALMOST UNFATHOMABLEAMOUNT OF MONEY..2 TRILLION..THAT A 2 WITH 12 ZEROS AFTERIT!
ITS PART OF THE CARES ACT..OR THAT EMERGENCY STIMULUS BILLTHAT'S SUPPOSED TO PROP UP THEPARALYZED ECONOMY..SOT: SEN.CATHERINE CORTEZ-MASTO (D)NEVADA :34" THE GOAL IS TO PUT MONEY INTOPEOPLE'S POCKETS AND LIQUIDITYINTO OUR BUSINESSES." NEVADA SENATOR CATHERINECORTEZ- MASTO..
SAYS..THERE HAVE BEEN PROBLEMS..ESPECIALLY WITH THE PAYCHECKPROTECTION PROGRAM..OR P-P-P FOR SHORT WITHIN CARESACT IT'S MEANT TO KEEPEMPLOYEES ON THE PAYROLLS..AT SMALL BUSINESSES..GETTING ACCESS TO THESE FUNDSBECAUSE THEY MAY NOT HAVE APRE-EXISTING RELATIONSHIP WITHSOME OF THE BANKS BUT WHAT I'MHEARING IS IF YOU HAVE APRE-EXISTING RELATIONSHIP WITHA FINANCIAL INSTITUTION THEPROCESS IS MUCH EASIER." AT GREEN CLEANERS ALTERATIONCENTER IN THE SOUTH VALLEY..IT'S AS SMALL AS IT GETS.SOT: MAHAMED YOUSSOUF/OWNER,GREEN CLEANERS ALTERATIONCENTER:50 "I HAVE FOUR EMPLOYEES WITHME FIVE AND...FULL-TIME EVERYBODY WORKS" THEISSUE ISN'T THE BANKINGRELATIONSHIP..OWNER MAHAMED YOUSSOUF..SAYS..THE P-P-P COVERS PAYROLL..WHICHLARGELY..FORGIVES THAT PORTION OF THELOAN..IF CRITERIA ARE MET...BUT...WHICH MIGHT NOT BE FORGIVENUNDER THE TERMS..AND THEN..TACK ON THE INTEREST...SOT: KATHRYN PETRALIAPRESIDENT, KABBAGE 4:56 "THERATES ON THESE PROGRAMS AREINCREDIBLY LOW SO A 1% ANNUALAPR HAVING TO RE-REPAID OVER ALONGER PERIOD TIME IF IT'S THATBIG OF A BURDEN TO A BUSINESSTHEN THEY DEFINITELY SHOULDN'TTAKE THAT LOAN BUT IT COULD BEA GREAT OPPORTUNITY TO BUY SOMERUNWAY FOR YOUR BUSINESS ASWELL FOR YOUR STAFF." KATHRYN PETRALIA..IS THE COFOUNDER..OF KABBAGE..A COMPANY THAT'S HELPING SMALLBUSINESSES THROUGH THE P-P-PPROCESS..SHE SAYS..WHILE THE GOVERNMENT PROGRAM..ISN'T RIGHT FOR EVERYBUSINESS..AT LEAST..IT MAY COVER SOME EXPENSES..MAHAMED SAYS..HE NEEDS A SOLUTION TO COVER..NONPAYOLL EXPENSES.SOT: MAHAMED YOUSSOUF/OWNER,GREEN CLEANERS ALTERATIONCENTER 1:15 "WE'RE STILLHANGING IN THERE WE JUST OPENEVERY SINGLE DAY BY MYSELFSOMETIMES WANNA HELP BUT THEMAJORITY THE TIME BY MYSELF I'MDOING THE CLEANING THEMASSIVE PLAN..TO SEND BILLIONS OF MOREDOLLARS..TO SMALL BUSINESSES...FOR EXTRAHELP...THAT NEW BILL..ABOUT 250 BILLION DOLLARS..WAS ON THE SENATE FLOOR FORDEBATE JUST HOURS AGO..AS FOR THOSE DIRECT PAYMENTS..SENATOR CORTEZ-MASTO SAYS THOSEWITH DIRECT DEPOSIT ON FILEWITH THE I-R-S..SHOULD BE GETTING MONEY..STARTING MONDAY...SHE'S WORKING WITHAUTHORITIES..
TO EXPEDITE..PAYMENT FOR..THOSE ON SOCIAL SECURITY OR..RECEIVING V-A BENEFITS..REPORTING LIVE JOE BARTELS 13ACTION NEWS.THE NUMBER OF DEATHS AND CASES
April 23, 2020