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Small businesses and government loan struggles

Small businesses across the nation are trying to stay afloat – most now are turning to federal and state help.

Posted: Apr 8, 2020 7:05 PM

CHICO, Calif. - Small businesses across the nation are trying to stay afloat – most now are turning to federal and state help.

The owner at Sin of Cortez tells me most local small businesses are all facing the same thing – apply for government loans and wait.

Danielle Ius says sales have dropped about 85 percent.

Ius says she applied for two loans. The Paycheck Protection Program (PPP) under the “Cares Act” and a loan from the Small Business Association that provides debt relief.

Ius says the national grant you can apply for online "I did call to check that it was received I didn’t receive confirmation and I was literally caller 882 I didn’t want to wait out that call just put it in the hands of higher faith and hope that it will work out," she said.

"They say these loans are going to be forgiven I am still a little skeptical and one person told me I have to have faith the government will do the right thing but only time will tell," said Ius.

Ius says she’s working with a local bank for help with the PPP but has not heard back yet. She says she applied recently and is hopeful.

Ius encourages people to make use of the Small Business Development Center at Butte College for more guidance.

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