WRIC: With small businesses struggling, Congress negotiating more funding for loans

WRIC, NICK CONIGLIARO

Small businesses forced to close their doors as a result of the coronavirus pandemic are struggling to stay afloat.

So what is being done? 8News reached out to state representative Abigail Spanberger, who says help is on the way.

That’s good news for Amy and Rob Lord, owners of Not Fade Away Gifts and Apparel in Midlothian.

“It’s something that we have poured literally our hearts and soul into bringing into this community, and for us to have to possibly shut our doors over something like this is just really,” Amy Lord said. “It’s heartbreaking.”

The Paycheck Protection Program (PPP) was meant to help small businesses, but the money has since run out. The Lords told 8News their store was left empty-handed because so many businesses needed PPP.

“We know several small business owners, gate workers, self-employed people that we’re all left out to hang, out to dry,” Rob Lord told 8News. “The money’s gone.”

Rep. Spanberger told 8News they’re working on additional small business forgivable loan funding estimated around $250 billion.

“It is vital that our small businesses survive and that they still have doors to open when we get to the end of this crisis, or at least the next step,” Rep. Spanberger said. “So, the next step that we need to take as members of Congress is to vote to provide additional funding to the PPP program so that more small businesses can, in fact, benefit from what is a lifeline for so many.”

According to Spanberger, the primary negotiations for additional funding are underway on the Senate side of Congress. Anyone who may have additional questions surrounding the small business loan program or would like to contact Rep. Spanberger can click here.