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Saturday, 31 July 2021

Many small businesses missed out on first round of loans

Credit: WTVA ABC Tupelo, MS
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Many small businesses missed out on first round of loans
Many small businesses missed out on first round of loans
April 27, 2020

Tupelo inside of the idea center.

Shirley hendrix owns the r and b specialty shop here in downtown tupelo inside of the idea center.

She says the government money would have been very useful to her business the first time around but she did not get any.

Hendrix says she has applied for the new government loan .

But she says its a mountain of paperwork and being a small business means she likely will not qualify for much to help continuing to pay her two employees.

She adds small business owners missed out on the first stimulus money which leaves her in a tough spot financially even with the second stimulus.

I did get a little money .

Its in the process of getting.

And it is small money because that's because its a small money.

So this sba loan was for small businesses.

If that had of gone well the first time, you would have had small businesses out of the way.

Our small businesses now could be up and running and figuring out what their next move is going to be."

Shirley says small businesses like hers give back to the communities and wonders if they are sometimes overlooked when it comes to loan programs. reporting live in tupelo wayne hereford wtva nine news.

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