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Bank rep gives advice to struggling small businesses amid pandemic

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Businesses are feeling the impact of the pandemic, but there is help.

According to the Federal Reserve Bank, 3 out of 10 small businesses may not make it through the year without additional help from the government.

President Joe Biden recently proposed a grant that would provide some relief, but there is no timeline as to when that could be distributed.

KX News spoke to a representative with Choice Bank who says although the pandemic has packed a punch, there are still many ways for businesses to keep their doors open.

“There’s a program on SBA’s website called the EDIL, which stands for Economic, Injury, Disaster Loan, and these loans you can go on SBA’s website to apply. It’s a very short process and they’re extremely long term loans,” Senior Vice President Christine Young said.

For more information, click here.

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