SUMTER, S.C. — Money for a loan program created to help small businesses affected by the coronavirus is a step closer to being replenished after passing in the U.S. Senate.
A $483 billion coronavirus aid package passed on Tuesday after Congress and the White House reached a deal to replenish the small-business payroll fund and provide additional money for hospitals and virus testing.
However, after having complications receiving federal funds the first go-round, some business owners wonder if they'll ever receive the money at all.
"If I would be one lucky enough to be in the number to receive those funds, I would be truly grateful, but, at this point, given what has happened in the first phase of it, I don't anticipate receiving anything to help me sustain my businesses," Patina Calhoun said.
Calhoun owns multiple retail stores in Sumter. Like many business owners, the growing spread of COVID-19 forced her to shut her doors.
"I've pretty much lost out on thousands of dollars," Calhoun said.
When the CARES act passed establishing aid for small businesses through the Paycheck Protection Program (PPP), she was hopeful, quickly applying to available loans through her bank and the Small Business Administration (SBA).
"The SBA loans, haven't heard anything from it," Calhoun said. "With the PPP, I did hear back from my financial institution, however, at that point they said that all the money was depleted."
According to the Associated Press, the SBA reached it's $349 billion lending limit for the program last Thursday sparking controversy after some restaurant chains like Shake Shack and Ruth's Chris Steak House received millions in funding.
Shake Shack said Monday it will return its loan to give smaller businesses a chance to receive the funds.
"It's stressful in the sense that you don't know should you just close your business down or should you try to hang in there," Calhoun said.
Jimmy Davis, the president of Air Solutions Heating and Cooling in Sumter, says they were just steps away from receiving aid.
"In the words of my accountant, we made it to the desk of the SBA to get an account number when funding ran out," Davis said.
Still, he's hopeful that, when fund are replenished, they will receive assistance.
"From the get go it's been very easy to apply," Davis said. "We were hoping that we were going to get ours, but we just didn't."
Additional funding is expected to be approved for the program as early as this Thursday.