DAYTON, Ohio (WDTN) – Congress is working to pass a $2 trillion stimulus package that includes billions of dollars to help small businesses stay afloat.
In the Oregon District, you can feel the emptiness as most of the businesses there have been forced to close down. It’s been two days since the stay at home order closed all non-essential businesses and more than a week since restaurants and bars were ordered to close.
Mayor Nan Whaley says it’s a difficult but necessary time for our city and country.
“We’re grateful for SBA loans coming, but it’s coming slowly and I think that’s a challenge for some of the businesses right now, is just the process is not quick enough,” she said.
NaAsiaha Simon is an expert in crisis control and management for small businesses. She says now is the time for small business owners to strategize how they can use the federal funding.
“You don’t want to overspend, you don’t want to not spend at all. You want to be smart, because we don’t know how long this will last,” she said.
The U.S. Small Business Administration (SBA) has approved Ohio’s request to allow small businesses and nonprofits to apply for low-interest, long-term loans of up to $2 million through the SBA’s Economic Injury Disaster Loan program. Click here to learn how you can apply.
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