PADUCAH — Local businesses are starting to apply for the Paycheck Protection Program loans to keep them afloat as the COVID-19 pandemic continues.
DeeDee's Delights Owner DeeDee Tinin said business has slowed down for her restaurant and catering service during the pandemic.
She received funding from the first round of PPP loans aimed at helping employers cover payroll costs. Now, she's considering applying for the second round.
"It's basically there to help float you if you are having some lean months and you just need assistance," Tinin said. "I would advise you to do it, because it just took a great load off of me at that time."
To qualify, businesses have to have fewer than 300 employees. They also had to have 25% revenue loss in 2020 compared to a 2019 quarter.
CPA Dean Owen filed 75 locally since it opened up Monday. The loans will help keep people on the payroll.
"Hotels and your restaurants, if they've made it this far and have not shut down yet, they were on the brink pretty much across the board," Owen said.
Business is starting to pick up for Tinin, but the funding would still be helpful.
The Small Business Administration has started processing applications for women and minority-owned businesses. Owen said they'll start processing everyone else's on Wednesday. Also on Wednesday, The Kentucky Chamber of Commerce is offering a free webinar on the latest information for the PPP loan at 9 a.m.