DOTHAN, Ala. (WDHN) — For small businesses in Dothan, the Chamber of Commerce has loan options during this pandemic.
One is a direct disaster loan that is offered by the U.S. Small Business Administration, it can be accessed at sba.gov.
Another loan is a paycheck protection program that small businesses can apply for to help them out with assistance during this period.
This is designed to provide an incentive for small businesses to keep their workers on payroll. They providing a loan up to $10 million for payroll and certain expenses.
For a business where employees are kept on payroll for eight weeks, up to 100% of the loan can be forgiven.
The chamber recommends small businesses to work with local lending institutions to access these programs.