YOU'LL BE ABLE TO FILE FOR
PREVIOUS WEEKS THAT YOU MISSED
WHILE YOU WERE WAITING FOR THAT
TO ARRIVE.
A NEW FEDERAL PROGRAM TO
HELP SMALL BUSINESSES AND
EMPLOYEES STARTED, THE PAYCHECK
PROTECTION PROGRAM PROMISES
LOANS THAT WILL BE REPAID BY
THE GOVERNMENT TO KEEP SMALL
BUSINESSES AND EMPLOYEES PAID.
AS CHRIS FOUND OUT, THE PROGRAM
HAD A FEW HICCUPS TODAY.
CHRIS?
CHRISTINE SMALL BUSINESSES
WERE APPLYING FOR THESE LOANS
STARTING THIS MORNING.
THE SMALL MAIN STREET DELI.
WHEN SOME OF THE SMALL
BUSINESSES WERE CALLING THE
BANKS, THE BANKS WEREN'T READY,
IN SPEAKING WITH THE BANKS,
THEY SAY THE FEDS MAY NOT HAVE
HELPED THEM OUT AS MUCH AS THEY
COULD HAVE.
THE CHANGE IS AS LATE AS THIS
MORNING, AS SOME CALL IT IT'S A
FIRESTORM.
IT SUPPOSEDLY STARTED THIS
MORNING.
NOBODY SEEMS TO KNOW
ANYTHING ABOUT IT.
NONE OF THE BANKS HAVE ANY
INFORMATION YET.
THEY OWN FOOD FOR THOUGHT IN
OAKLAND.
HE TRIED TO APPLY FOR THE
MONEY.
HE'S TRYING TO MAKE SURE THE 7
FULL-TIME EMPLOYEES GET PAID AS
THEY LOSE THIS DURING THE
PANDEMIC.
I CAN'T WAIT TO FIND OUT, I
NEED TO KNOW TODAY.
ACCORDING TO THE U.S., SMALL
BUSINESS ASSOCIATION, ABOUT
$350 BILLION ARE AVAILABLE, THE
PROGRAM IS FOR ANY SMALL
BUSINESS AND THIS IS USED FOR
PAYROLL AND UTILITIES, I WAS
HOPING TO GET IT DONE THIS
MORNING.
I HAVE ALL OF THE INFORMATION
READY FOR THEM.
BEFORE THEY SAY GO, I'LL HAVE
TO WAIT FOR US.
HE SPOKE WITH HIS BANK TO
GET THE EDUCATION ON THE
WEBSITE.
THEY'LL HAVE TO TURN AROUND
QUICKLY FOR PEOPLE TO STAY IN
BUSINESS.
WE'LL HAVE TO CREATE LONE
PRODUCT THAT WE NEVER HAD
BEFORE IN SEVEN DAYS, IT TAKES
EVERY AREA OF THE BANK TO MAKE
THAT HAPPEN.
THEY WERE ABLE TO ACCEPT
APPLICATIONS AND OTHERS WERE
NOT LUCKY, THEY ARE TRYING TO
GET IT STARTED.
THE PROGRAM IS UNPRECEDENTED
AND CHANGES WERE MADE AS LATE
AS 9:30 THIS MORNING, DO I WISH
WE HAD MORE TIME, ABSOLUTELY.
I WISH WE HAD ANOTHER WEEK TO
FINALIZE ALL OF THE PROCESSES,
BUT I'M ENCOURAGED THAT WE GOT
UP AND RUNNING AND WE'RE
ACCEPTING APPLICATIONS.
THE DOLLAR BANK SAID THEY
HAD HUNDREDS OF APPLICATIONS
AND THOUSANDS OF INQUIRIES,
THEY HOPED IT HAVE THEM GO MORE
DIGITAL AND STREAMLINE FOR
CLIENTS.
