Governor Invites Small Businesses To Apply For Aid During Downturn
Apr 7, 2020, 4:56 PM | Updated: 9:48 pm
SALT LAKE CITY, Utah – Governor Gary Herbert called for small businesses to apply immediately for $10,000 in virtually-free federal money to keep paying employees during the COVID-19 pandemic.
The COVID-19 epidemic has dragged the U.S. economy nearly to its knees, devasting small businesses and leaving a record number of employees without a paycheck.
President Donald Trump signed the $2.2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act into law in March as an immediate solution to prop up the economy.
The act included the $350 billion Paycheck Protection Program that gives small businesses access to loans up to $10 million.
“As long as businesses keep their employees on payroll and use the loan for operating expenses, the PPP loan will be forgiven,” Herbert said.
Small businesses must have fewer than 500 employees. Herbert called them the backbone of the economy, accounting for 90% of Utah businesses.
Herbert urged all of them to take advantage of the loans now.
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“This is the most important program right now for every small business in Utah,” he said. “It will cover payroll, rent, mortgages, interest, utility payments, for an eight-week period of time for just about every business that we have here in Utah.
“If you run a small mom and pop shop, this program is for you. If you do contractor freelance work in any industry, this program is for you. And if you are a local franchisee of a restaurant or a hotel, this program is for you. It’s going to help you get through the terrible times until we have a recovery.”
Derrick Miller, chairman of the Utah Economic Task Force added, “This capital will flow throughout the economy as the fuel that keeps our economic engine running.”
Miller said businesses can apply through their local lenders. They can also go to the state’s coronavirus website for a list of lenders.
Coronavirus Resources
- Have you or a family member been affected by coronavirus issues in Utah? KSL TV wants to hear from you. Contact KSL by emailing social@ksl.com.
- What is COVID-19? Here’s What You Need To Know To Stay Healthy
- What We Know And Don’t Know About The Coronavirus
- Four Common Coronavirus Questions Answered
- The latest coronavirus stories from KSL TV can be found at our Staying Safe: Coronavirus section.
- Your Life Your Health: How can parents prepare their home, children against coronavirus?
How Do I Prevent It?
The CDC has some simple recommendations, most of which are the same for preventing other respiratory illnesses or the flu:
- Avoid close contact with people who may be sick
- Avoid touching your face
- Stay home when you are sick
- Cover your cough or sneeze with a tissue and then throw the tissue in the trash
- Wash your hands often with soap and water for at least 20 seconds, especially after going to the bathroom, before eating, and after blowing your nose, coughing or sneezing. Always wash your hands with soap and water if your hands are visibly dirty.
- If soap and water are not readily available, use an alcohol-based hand sanitizer with at least 60% alcohol.
How To Get Help
If you’re worried you may have COVID-19, you can contact the Utah Coronavirus Information Line at 1-800-456-7707 to speak to trained healthcare professionals. You can also use telehealth services through your healthcare providers.
Additional Resources
If you see evidence of PRICE GOUGING, the Utah Attorney General’s Office wants you to report it. Common items in question include toilet paper, water, hand sanitizer, certain household cleaners, and even cold medicine and baby formula. Authorities are asking anyone who sees price gouging to report it to the Utah Division of Consumer Protection at 801-530-6601 or 800-721-7233. The division can also be reached by email at consumerprotection@utah.gov.