Businesses in need of a boost

Video Credit: WXXV
Published on March 27, 2020 -

Businesses in need of a boost

Shopping areas typically packed with spring breakers this time of year - now stark as evidenced by near barren parking lots but there is a ray of hope as it appears congress will likely take the final steps in passing a $2.2 trillion dollar stimulus relief package into law come Friday, which would, in part, extend and expand unemployment benefits for those now out of work-among other things.


Businesses in need of a boost

How soon we may see relief.

- super quick!- - shopping areas typically packed- with spring breakers this time- of year - now stark as- evidenced by near barren parkin- lots but there is a ray of- hope as it appears congress wil- - - - likely take the final steps in- passing a $2.2 trillion dollar- stimulus relief - package into law come friday, - which would, in part, extend an- expand unemployment benefits fo- those now out - of work-among other things.

- adele lyons, president & ceo of- mississippi gulf coast chamber- of- commerce: "it looks like they can get $600 over and above wha- they can get from the - state on a weekly basis.

That's- a good thing.

There are some ta- credits for payroll - taxes, those who retain their - employees."

Also under the plan, single - taxpayers would receive $1,200- dollars, and married couples- $2,400 within several weeks - after the stimulus package is - approved.

- it would also open the door to- further help struggling - small businesses.

- adele lyons, president & ceo of- mississippi gulf coast chamber- of- commerce: " one of the things i think people need to note that- the sba loans - that have been open and - available for a short period of- time here.

Those loans are- still available.

Those loans ar- up to $2 million and you work - directly with the sba - on those.

What my understanding- of what's in the stimulus - package is sba is - now opening up their 7a program- which is where you borrow the - money from a local- lender.

This is where you'll be- working with your local bank to- put together a loan - package for similar things, - - - - salaries, payroll."

Toni miles, news 25: " from biloxi to bay st.

Louis and beyond, everyone- is feeling the- effects of the coronavirus- threat.

City and local business- - - - leaders say the stimulus- legislation is a step in the- right direction and can't come- soon enough."

Biloxi mayor andrew "fofo" gilich: " for the city, and the businesses and the- major businesses, the folks tha- are out of work, 12,000 in the- casino industry, it's going to- be a big positive."

Adele lyons, president & ceo of- mississippi gulf coast chamber- of commerce: " it's absolutely going to help some small- businesses operate.

The - challenge is going to be timing- people having to fill out loan- - - - packages, get them in, get them- approved.

Those can only move s- fast.

I still think it's going- to be several weeks, maybe- longer, before money actually - hitting the ground to get help- for these local - businesses."

Toni miles, news 25.- - - -

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