STREAMING NOW: Watch Now

North Alabama businesses apply for SBA Paycheck Protection Program

Small businesses started applying for the Paycheck Protection Program last Friday.

Posted: Apr 8, 2020 2:58 PM
Updated: Apr 9, 2020 8:07 AM

Bank Independent told WAAY 31 at least 400 small businesses in the area are applying for the Paycheck Protection Program through their bank.

The actual application is two pages long, but small businesses must provide other documents, too.

Bank Independent President Macke Mauldin said they are working hand in hand with small businesses in applying for the program. He said so far, they've had 100 small businesses get approved for the Paycheck Protection Program.

Businesses with less than 500 employees can apply to get money, because of the impact the coronavirus pandemic has had on small businesses.

Mauldin said businesses applying have to prove they are in businesses, provide payroll documents, tax ID numbers, and other documents. Businesses can apply for this through the end of June. Whatever money a businesses gets, they must spend it in eight weeks or it will roll over into a low interest loan.

While some banks are only approving loans from current customers, Mauldin said bank independent is using a first come first served approach.

"The concern is that the money may run out, but the president said last night, he was going to add another $250 billion to it. So, there seems to be plenty of money. It's just a process you go through, and I would encourage any and every business that thinks they are eligible to apply," said Mauldin.

Mauldin said they are doing everything electronically to keep customers out of their offices for safety. Mauldin said it's a simple process, but the application has changed frequently.

Bank Independent has set up its own website to help business owners who want to apply for the program. Mauldin said employees are on standby to walk any small business owners through the process.

Some banks are not participating in the Paycheck Protection Program. Mauldin said they want to help small businesses and that outweighs any negative impact his bank could see.

To apply for the Paycheck Protection Program, click here

Huntsville
Broken Clouds
84° wxIcon
Hi: 87° Lo: 69°
Feels Like: 87°
Florence
Scattered Clouds
87° wxIcon
Hi: 84° Lo: 70°
Feels Like: 91°
Fayetteville
Few Clouds
84° wxIcon
Hi: 87° Lo: 68°
Feels Like: 88°
Decatur
Broken Clouds
83° wxIcon
Hi: 85° Lo: 70°
Feels Like: 88°
Scottsboro
Clear
86° wxIcon
Hi: 87° Lo: 68°
Feels Like: 90°
WAAY Radar
WAAY WAAY-TV Cam
WAAY Temperatures

Alabama Coronavirus Cases

Confirmed Cases: 18766

Reported Deaths: 651
CountyConfirmedDeaths
Mobile2284118
Jefferson1884103
Montgomery182343
Tuscaloosa82216
Marshall7059
Franklin5788
Lee55834
Shelby52220
Tallapoosa43266
Butler41918
Walker3812
Elmore3729
Chambers35926
Madison3464
Morgan2981
Unassigned2972
Baldwin2929
Dallas2873
Etowah26212
Lowndes25912
DeKalb2573
Autauga2395
Coffee2391
Sumter2287
Houston2265
Bullock2156
Pike2080
Colbert1872
Hale1799
Russell1770
Barbour1771
Marengo1746
Lauderdale1692
Calhoun1653
Wilcox1547
Choctaw15310
Cullman1501
Clarke1492
St. Clair1311
Randolph1287
Marion12411
Dale1230
Pickens1215
Talladega1175
Limestone1080
Chilton1051
Greene954
Winston910
Macon874
Jackson833
Henry812
Covington811
Crenshaw783
Bibb761
Escambia753
Washington726
Blount631
Lawrence510
Monroe452
Geneva440
Perry420
Conecuh411
Coosa401
Cherokee383
Clay282
Lamar260
Fayette160
Cleburne151

Tennessee Coronavirus Cases

Confirmed Cases: 24833

Reported Deaths: 388
CountyConfirmedDeaths
Davidson542965
Shelby5428119
Trousdale13944
Rutherford132128
Hamilton93516
Sumner93146
Lake8350
Bledsoe6101
Williamson57711
Putnam5196
Robertson5165
Tipton4593
Wilson4428
Knox4365
Out of TN4264
Bedford2954
Montgomery2833
Rhea2140
Hardeman2010
Madison1732
Bradley1611
Unassigned1610
Macon1583
Loudon1570
McMinn14414
Cheatham1350
Fayette1252
Cumberland1191
Dickson1180
Maury1050
Sevier942
Blount933
Washington750
Coffee740
Monroe692
Wayne640
Gibson631
Sullivan602
Lauderdale591
Hickman580
Dyer570
Franklin541
Greene522
Unicoi480
Obion433
Hamblen432
Marion421
Anderson411
DeKalb380
Smith371
White340
Hawkins342
Marshall331
Lawrence330
Haywood332
Overton320
Cannon320
Grundy311
Henry310
Lincoln290
Jefferson280
Carroll281
Meigs270
Weakley260
Warren260
Perry240
Hardin222
Cocke210
Sequatchie190
Carter191
Johnson190
Jackson190
Polk180
Campbell181
Morgan170
Roane160
Crockett162
Humphreys151
McNairy150
Henderson150
Stewart130
Claiborne120
Chester120
Fentress120
Giles120
Scott120
Grainger110
Clay80
Houston80
Benton71
Moore50
Decatur50
Van Buren40
Union40
Pickett30
Lewis30
Hancock10

 

 

Community Events