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Small businesses struggle during pandemic
FOX 35's Stephanie Buffamonte has the story.
ORLANDO, Fla. - Struggling local businesses say they weren't able to get much-needed money from the Paycheck Protection Program.
On Sunday, White House officials said they are working on a new deal that would add another nearly $300 billion for small businesses.
The Paycheck Protection Program is a $349 billion program that is meant to help small businesses impacted by the coronavirus pandemic.
The program ran out of money on Thursday.
On Sunday, U.S. Treasury Secretary Steven Mnuchin announced he is working on a deal that would bring another $300 billion to the program to help small businesses.
Small business owners in Orlando say it's been a struggle to keep business up and running during the coronavirus pandemic.
Many businesses were hoping the Paycheck Protection Program would help them during these troubling times, but many did not receive the financial aid.
"I've been through hurricanes, tornados, fires. I've never seen anything like this," said High Tide Harry's Owner Michael Heretick. "This is tough."
The owner tried to apply for the Paycheck Protection Program right away, but the application did not go through.
High Tide Harry's had to furlough about half of its staff.
They were hoping the money would help them pay all of their employees.
"If I would have got that money that would have brought every single one of them back," Heretick said.
The Payment Protection Program has been heavily criticized for giving money to large chain restaurants, while mom-and-pop shops have not received aid.
"When you have a Ruth's Chris get $20 million, when you have Potbelly get $10M, and people that I know with very small businesses that applied the first minute to their own bank never got a yes," said Fox News Channel Business Contributor Gary Kaltbaum said. "I must tell you I’m cringing over it."
Mike's Italian Ice in Orlando also tried to apply but wasn't able to get the much-needed financial aid from the Paycheck Protection Program.
The business says it's now unable to pay all of its workers and will need to furlough employees.
"Even though our intention was to keep everyone on, all the way through this and really make it a non-event for them, that’s impossible now," said Mike's Italian Ice Owner Steven Kitts.
Many are calling for mom-and-pop shops to get aid before chains when more financial aid from the Paycheck Protection Program becomes available.
"I think they need to add more to the funding for us and all the other small businesses so that everybody can make it through this," Heretick said.