Local businesses struggle for aid

Local businesses struggle for aid

Watching out for you, this is new today newswatch 12's alicia rubin has been speaking to local businesses about how the ppp loan or lack thereof is affecting them.

Brian for some businesses, it's looking like a worse case scenario.

Today i talked with local businesses that are struggling -- many of them were approved for a ppp loan but haven't gotten the money yet.

Paul says: i went to my banks website turn on their site and said coming soon prized of any breaking developments so that was about a week or week and a half many banks had just gotten to the point in which they could start processing some of these applications when the money ran out.

Paul says: and then they opened it up but they had some problems with my particular bank a large bank had issues with the fed and reserve requirements and such paul mcmahon owns grass shack cafe in phoenix he and other small business owners have been left in the dark and have been working for weeks to try to get answers.

Paul says: i went to the sba site initially and said you should apply to two banks so i applied to another bank we do business with as well but i never heard from them other local businesses are in the same boat.

Javier cruz owns simple cafe in ashland.

Jaivier says: we have the application online but the bank is not taking any applications right now because they had too many they said a fortunate few were able to get a jump on the process early and were able to get a ppp loan that has enabled them to continue critical actions, like paying employees.

We actually had our application in before the deadline, on the first day it was going to open.

Two weeks ago today we filed and we received the proceeds on tuesday so it took about a week and a half and we were very early in the process at the top of the queue for a large amount of businesses that are left waiting it's extremely stressful not knowing if more funds are on their way.

Coming up tonight at 6 hear from a bank and senator that i spoke to this week about this exact situation and what they say needs to happen to help businesses.

Reporting from home, alicia rubin, newswatch 12.