MONTGOMERY, Ala. (WAFF) - Gov. Kay Ivey announced Tuesday she has put together a team to see how the state can help small businesses suffering during the health crisis. A recommendation from the team is expected Friday.
WAFF 48 News spoke with several small businesses that are coping with limited or halted operation. In all cases, applications for federal assistance through the CARES Act were submitted but approval is pending.
Small businesses in Alabama have received nearly 20,000 loans totaling over $3.8 billion to help keep their companies afloat during the COVID-19 pandemic, thanks to the Paycheck Protection Program signed into law by President Trump.
Ivey has teamed up Lt. Gov. Will Ainsworth with the Small Business Commission to begin looking for ways where the state can restart its economic engine.
The team will present its recommendations by Friday, April 17.