New Data Shows Valley Businesses Receive Millions Of Federal Loans To Weather Pandemic – NBC Palm Springs – News, Weather, Traffic, Breaking News

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The problems surrounding the pandemic have prompted many local business owners to seek federal assistance as a last resort.

“We didn’t know how long this would last,” said Tim Kelly, chief operating officer of Fisherman’s Market & Grill. “We didn’t know what was going on, we had to.”

Relief funds were limited and competition was fierce.

Recently released data show that hundreds of Valley companies have received loans and grants, some worth millions of dollars.

Companies like Fisherman’s Market and Grill say the money has helped a lot.

“God sent for us,” Kelly said. “It helped with our staff and we can keep the doors open, except we were just getting into season, our busiest time of the year, and it just passed out.”

As part of the payroll protection program, more than $ 450 million has been distributed across nine cities in the valley.

The money went to various industries, including healthcare, where DAP Health received $ 2.7 million.

“This allowed us to open a COVID clinic, staff it with an infectious disease specialist, test over 4,000 people, and vaccinate over 4,500 people.”

Grants were also provided through the Restaurant Revitalization Fund (FRF).

Restaurants in Palm Springs received the most money from this program.

45 businesses took home over $ 26 million.

But the funds weren’t enough to get them back on track before the pandemic.

“We had 186 at the high season last year. We now have 86, which is more than the lowest level of 17, ”said Kelly.

Thanks to these loans, around 30 percent of the valley’s small businesses did not survive the pandemic, leaving those in luck, according to the Coachella Valley Economic Partnership.

“We just hold on and do our best,” Kelly said.





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