Federal loans could help North Alabama small businesses in coronavirus crisis

On Friday, owners of Salon Allure are applying for the Paycheck Protection Program.

Posted: Apr 1, 2020 6:19 PM

Right now, small businesses are taking a hit.

However, help from the federal government is on the way through the Coronavirus Aid, Relief, and Economic Security Act, or 'CARES' Act. 

It includes a $349 billion Paycheck Protection Program. It will help with a businesses payroll, and other operating expenses. 

At Salon Allure, they made the decision to close two days before the governor required non-essential businesses to shut down temporarily. 

Since then, they have been actively seeking financial guidance on what to do to keep their business alive. 

"This has been our baby, its been our dream, its our life," Michelle McGough, owner of Salon Allure said. 

In the 16 years of business, McGough and co-owner Paula Lecher are unsure of what is to come. 

Like many other non-essential businesses, they have had to make tough decisions. When they realized, it was not safe to stay open, they furloughed the majority of their employees. 

"We have several single moms that have children they need to feed and when we said we had to close, they panicked," McGough said. 

McGough said they have spoken directly to each one, guiding them to file for unemployment. 

"They're OK," McGough said. "It's scary, nobody knows when they are going to get to come back to work."

On Friday, McGough and her business partner are applying for the Paycheck Protection Program. It will provide 8 weeks of payroll and certain overhead to keep workers employed, with loan payments deferred for six months. 

"That will preserve their financial stability without us having to pull money out of their reserve," McGough said.

McGough said she is thankful the government is providing her business with a chance to come out of this pandemic alive. 

"We get to touch lives and make people smile and make them feel better and we hope that we continue to do so," McGough said.

On Friday, eligible small businesses will be able to apply online. Businesses can receive a loan up to $10 million. 

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Alabama Coronavirus Cases

Cases: 540267

Reported Deaths: 11038
CountyCasesDeaths
Jefferson798791529
Mobile41295809
Madison35175506
Tuscaloosa25932455
Shelby25309249
Montgomery24736593
Baldwin21422310
Lee15997172
Calhoun14577319
Morgan14431280
Etowah13927353
Marshall12280225
Houston10650282
Elmore10158206
Limestone10075151
St. Clair9955245
Cullman9773194
Lauderdale9465243
DeKalb8866188
Talladega8344176
Walker7261278
Autauga7010108
Jackson6840112
Blount6776139
Colbert6322135
Coffee5583118
Dale4878113
Russell445938
Chilton4383113
Franklin426382
Covington4138118
Tallapoosa4044153
Escambia395177
Chambers3598123
Dallas3569153
Clarke351561
Marion3140101
Pike312077
Lawrence303698
Winston275873
Bibb264864
Geneva254178
Marengo249865
Pickens234862
Barbour232056
Hale224078
Butler219069
Fayette213162
Henry190043
Cherokee184845
Randolph182542
Monroe178241
Washington167839
Macon161350
Clay157257
Crenshaw153657
Cleburne149641
Lamar143336
Lowndes140753
Wilcox127430
Bullock123342
Conecuh110829
Coosa109228
Perry107826
Sumter105032
Greene92634
Choctaw61024
Out of AL00
Unassigned00

Tennessee Coronavirus Cases

Cases: 858355

Reported Deaths: 12327
CountyCasesDeaths
Shelby967281638
Davidson89777942
Knox51190637
Hamilton44647496
Rutherford43278437
Williamson28148217
Sumner24170349
Montgomery20475228
Wilson18929236
Out of TN1826899
Sullivan16994300
Unassigned16910134
Blount15582196
Bradley15123151
Washington14713245
Maury13566172
Sevier13464176
Putnam11444175
Madison11292241
Robertson9810132
Anderson8810171
Hamblen8633173
Greene7936156
Tipton7403104
Coffee6925123
Dickson6856113
Cumberland6775133
Carter6671158
Gibson6559146
McMinn655998
Bedford6528129
Roane6327105
Jefferson6249125
Hawkins6188107
Loudon617169
Lawrence599191
Monroe588796
Warren556481
Dyer5445106
Franklin516590
Fayette512678
Cheatham458456
Obion455596
Cocke452699
Lincoln437163
Rhea436375
Marshall420758
Campbell417863
Weakley416965
Giles4014100
Henderson381176
White368970
Carroll363683
Macon363178
Hardin358568
Hardeman354364
Lauderdale321044
Henry320976
Claiborne318973
Scott316045
Marion313147
Overton302561
Wayne296934
Hickman285146
McNairy284454
DeKalb280754
Smith278939
Haywood271562
Grainger263950
Morgan251939
Trousdale250622
Fentress243447
Johnson242239
Bledsoe216311
Chester215551
Polk209725
Unicoi204449
Crockett203649
Cannon192831
Union192834
Humphreys182428
Grundy179434
Sequatchie171729
Lake170526
Benton167640
Decatur159239
Lewis158626
Meigs139325
Stewart133428
Jackson132536
Clay110330
Houston109933
Perry107328
Moore101817
Van Buren85523
Pickett75824
Hancock59512

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