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Alabama's small businesses need economic support to stay open

Video Credit: WAAY ABC Huntsville, AL - Published
Alabama's small businesses need economic support to stay open
Alabama's small businesses need economic support to stay open

Jefferson convention complex.

United states senators return to washington next week.

On their agenda is the pay-check protection program and other economic stimulus benefits related to the coronavirus pandemic.

Waay-31's bridget divers spoke with the alabama director of the u.s. small business administration.

She learned why another round of the program is so important to keeping small businesses open.

More than 67,000 loans totalling almost 6.2 billion dollars were distributed during the first round of the paycheck protection program.

And that's just in alabama .

Tom todt/ director of the alabama district office for the u.s. small business administration "small businesses in alabama represent 99 almost 98% of all the businesses in alabama.

It's crucial to preserve those to the greatest extent possible so anything we can do to help them is honestly going to help all of our communities."

The director of the alabama district office for the u.s. small business administration tom todt says it's more important than ever to support small businesses.

The gold sprint coffee shop is one of the alabama small businesses that received a p-p-p loan.

Alexis christakes/ manager at gold sprint coffee "during the pandemic i would say like the small businesses are the ones who are hurting right now.

The big businesses are making more money than they ever have."

Alexis christakes says it has been rough at times at the coffee shop during the pandmeic.

Alexis christakes/ manager at gold sprint coffee "we laid off all of our part-time employees and we just kept on our four main like full-time people.

And we were working one person a shift for a while."

Even with the paycheck protection program loan.

Alexis christakes/ manager at gold sprint coffee "almost all of it went to payroll which you know is the biggest expense.

So we're just trying to keep everyone employed and able to pay their bills and stuff."

Tom todt/ director of the alabama district office for the u.s. small business administration "well the paycheck protection program was designed to be able to enable small business to keep their employees or to call back employees that had been laid off because of the pandemic."

Todt says supplemental funding for another paycheck protection program is crucial to helping small businesses survive.

There are other loan options for small businesses such as the economic injury disaster loan program to help keep small business afloat during the pandemic.

Bridget divers waay 31 news




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