ALBANY, N.Y. (NEWS10)- On Monday morning, the Small Business Administration began accepting applications again for loans to help small business impacted by COVID-19.
Two local business got their PPP loans and are putting the money to good use. Bountiful Bread received their PPP loan within the past week. Amanda Martin, the director of operations says she is ready to get her employees back to work.
“We were able to get our small business loan by the end of this past weekend. So this week we started adding more staff everyday. We have about 4 to 5 more people on today and we are adding more and more staff throughout the rest of the week.” said Amanda Martin Director of Operations, White Management.
Many small business owners were left hanging after the initial funds for the PPP program ran out in less than 2 weeks. Then the House passed an additional $310 billion in funds for the program.
Sandra Dollar the owner of Evoke Style a received her PPP loan the first time around. Dollar says she is now using it to expand her business in a way she hasn’t before.
“My people are working on getting us online. That is how I’m utilizing some of the money. You also have to bring 75% of your employees back and I’m like a half a person short at this point, but we will get there.” explained Sandra Dollar, owner of Evoke Style.
Now that the Small Business Administration is accepting more loans, this could lead to more scams. Kate Baker from the New York State Small Business Development Center at the University of Albany says to only trust emails from the SBA website or your own personal bank.
“If it doesn’t come for an email address at sba.gov it’s not from the federal government. The SBA will also not request that you send them any personal information over a email chain.” said Kate Baker, Interim Director at the NYS Small Business Development Center at the University of Albany.
Many small business owners are still waiting on their loans and hope to get back on their feet soon.