Rochester and Dover Come to the Aid of Local Businesses
It’s been all over the news that the SBA loan program launched by the Federal Government has been plagued with some problems. Like, how did the Lakers qualify for a loan, but local businesses in Rochester and Dover haven’t been able to? Fortunately, local small businesses have been given a glimmer of hope thanks to something called “microloans.” Fosters.com reports that the cities of Rochester and Dover have created something called the microloan program for local businesses.
They can obtain a $5,000 small business bridge loan. Thirteen businesses in Rochester and all were approved. That brings much-needed relief to businesses like Life Balance. Jessica Pinkham is a licensed clinical social worker and owner of Life Balance. She provides mental health services and treatment for many in the community including health care workers and first responders. Right now, our first responders and health care workers need all the help they can get.
The loan won’t cover many of the businesses for long so let’s hope there is an end in sight. According to fosters.com municipalities are digging into their budgets and the idea is catching on in other States. Towns need to support local businesses. So we don’t lose our main streets to this virus.