Santa Cruz bookshop can pay employees thanks to government bailout

It means that the 25 employees on furlough are back on the books.

AND GRADUATION AREUSUALLY MONEY MAKERSFOR SMALL BUSINESSESTHIS TIME OF YEAR.HOWEVER, LIFEDURING THE COVID-19HAS FORCED SOMEBUSINESSES TO MAKELAYOFFS.MANY ARE DEPENDINGON LOANS TO HELP THEMTHROUGH THESE DIREFINANCIAL TIMES.ACTION NEWSREPORTER PHIL GOMEZSHOWS US WHERE SOMEOF THE MONEY CANHELP."SMALL BUSINESSES ARESTRUGGLING AND COULD BESEEING SOME FINANCIALHELP FROM THEGOVERNMENT SOON.""WE GOT IT, WHICH MEANSTHIS WEEKEND WE'REBRINGING IN OUR FULL STAFFBACK ON PAYROLL"WHAT CASEY COONERTYPROTTI GOT WAS A LOANFROM THE FEDERALPAYCHECK PROTECTIONPROGRAM IT MEANS THATTHE TWENTY-FIVEEMPLOYEES ONFURLOUGH ARE BACK ONTHE BOOKS.THE LOAN PAYS FORSEVENTY FIVE PERCENTOF PAY ROLL-THE REST ISFOR RENT."THE EXCITING THING ABOUTTHE PPP LOAN, IF YOU DO ITCORRECTLY IT'S FORGIVEABLEAT THE END OF THE DAY, SONOT GOIGN INTO FURTHERDEBT IS WHAT I WASLOOKING FOR"AFTER THE LOMA PRIETAEARTHQUAKE IN 1989BOOKSHOP SANTA CRUZWAS CLOSED FOR AMONTH .

DURING THEPANDEMIC THEY EXPECTTO BE SHUTTEREDSEVERAL MONTHSLONGER---NOW THEIRFOCUS IS ON SHIPPINGORDERS."BUSINESS HAS BEEN NON-EXISTANT"ZACHARY DAVIS, CO-OWNER OF THE PENNYICE CREAMERY ALSOAPPLIED FOR THE PPPLOAN AND IS JUST DAYSAWAY FROM GETTINGTHAT FUNDING BUT ITHASN'T BEEN EASYDEALING WITH THEFEDERAL GOVERNMENT."NOT A WHOLE LOT OF CLEARCOMMUNICATION.

I THINKTHE COMMUNCATION THAT'SCOMING OUT DOESN'T REALLYTRANSLATE WITH REALITY"THE CITY OF SANTA CRUZALSO STEPPED UP TOHELP SMALL BUSINESSESWITH A MICRO LOANPROGRAM.IT PROVIDES LOANS FROMFIVE-TO-TEN THOUSANDDOLLARS.

IT'S GOAL IS TOFAST TRACK FINANCIALASSISTANCE IN THREEMONTHS OR LESS."WE'RE REALLY HOPING TOGET THIS FUNDING IN THEHANDS OF LOCAL BUSINESSESBY THE BEGINNING OF MAY"SO FAR, 78 BUSINESSESHAVE COMPLETED LOANAPPLICATIONS ANDANOTHER 87 ARE IN THEPROCESS OF SUBMITTINGTHEM"THE PPP IS SCHEDULED TOLAST 8 WEEKS BUT LIKEEVERYTHING ELSE DURINGTHIS PANDEMIC THE FUTUREIS CERTAINLY UNCERTAIN.IN SANTA CRUZ, PHILGOMEZ, KSBW ACTIONNEWS 8"COMING UP.HOW INMATES WITHNO SEWING EXPERI