Linden Neighborhood Conversation

Robin Davis
Director of Media Relations
614.645.2425
rcdavis@columbus.gov

Melanie Crabill
Communications Manager
614.645.5300
mjcrabill@columbus.gov

Media Advisory
News Date: May 20, 2020

Paycheck Protection Program (PPP) Supports Small Businesses

January of 2020 was a very exciting time for Carol Haynes, owner and president of Kiddie Academy. She had just had a “soft” opening of her 2,700-square foot facility that offered daycare, high-quality pre-K and after-school programs. On February 20, she had the official ribbon cutting. And on March 20, the facility was closed.

COVID-19 had shut down all of the daycare centers – and almost every other business – in the state of Ohio.

But there was a lifeline: The Small Business Administration was offering loans through a Payroll Protection Program to keep businesses alive. Unfortunately, Carol – like many other small minority and women owned businesses – was left out of the first round of loans.

We started hearing stories like hers at the Office of Diversity and Inclusion, and I thought, “What could we do to help?” So I asked all of our team members to start making cold calls to our certified small businesses and offer assistance. To date, we have helped more than 150 businesses apply for the second round of PPP loans. And we’re just starting to hear from ones that received them, including Carol, who received just under $70,000 – enough to keep her business whole until she can reopen in July.

She received her loan from Standing Stone Bank – a small bank out of Lancaster. Small financial institutions proved to be a critical component to getting the loan applications processed. Bigger banks were looking to back larger businesses. Smaller banks had more capacity for the loans desperately needed by smaller businesses.

And there is more good news: The Small Business Administration still has $100 billion in PPP loans available. The Office of Diversity and Inclusion would love to help. Email us at ODI@columbus.gov to get the process started.​

Please check out the video for the full story and more information, available here.