Jacksonville Small Businesses Wait For Loans Amid COVID-19 Hardship – Action News Jax
JACKSONVILLE, Fla .– Small businesses across the country are waiting for federal loans to deal with the economic hardships created by COVID-19.
But some locals told Action News Jax they couldn’t get help.
On Friday, staff at Drake’s Bistro in St. Augustine worked hard to prepare a large delivery order for the National Guard.
These days they are thankful for whatever they can get.
“We were only a few weeks away from being caught up and ultimately showing maybe a profit in such a short time, and we were hit right on our buttocks, in our tracks,” said owner Tammy. Drake. “It’s slow. It’s bad.”
Like so many others nationwide, Drake attempted to apply for the Paycheck Protection Program, a federal small business loan put in place to help keep businesses open and pay their employees.
“I went online to prepare my case and found out that Bank of America only processes loans from business customers who currently have a business line of credit with them, that I don’t have a line of credit. . We used every penny we had to open this place, ”Drake said.
It was last week.
For Drake, it was as if things were going from bad to worse.
“[It’s] heartbreaking, ”Drake said. “I don’t think we’re going to get there. We try hard every day.
But on Friday, Action News Jax contacted Bank of America and found that 24 hours after opening the application process, it expanded eligible businesses to include people who use checking accounts with them for business.
It includes people like Drake.
Now, she is optimistic about getting the loan, knowing that every little bit will help her and her employees.
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