GREENSBORO, N.C. — Gina Hicks and Laura Mensch never pictured they'd be applying for loans to keep their business afloat months ago.
Now the unfortunate reality is not only the fact they had to apply for loans, but like many other businesses, they still haven't received the money.
"Most of the local businesses that we’ve talk to, they’ve all applied as well and there are very few people, I think only two people who received loans from the payroll protection plan," said Gina Hicks, owner of Vivid Interiors on Elm Street downtown.
Hicks and her co-owner Laura Mensch said a lot of their clients for their interior design business put projects on hold seeing everything happening with the pandemic.
One of the bigger pieces of news that hit the business hard: the cancellation of High Point Furniture Market.
"Not that our main business is furniture market, but we do do to showrooms every market and not being able to do the showrooms, not being able to go to the market and shop market for our clients, and not being able to take our clients to market has been a bit of a little bit of a heartbreaker," said Laura Mensch.
The pair also tried applying for loans through a smaller bank, but there was no money left. They're hopeful efforts being made by the state and federal government to get more money available for small businesses will give them a chance at more loans.
One of the efforts being made by the state is replenishing the Rapid Recovery Program through the Golden Leaf Foundation.
North Carolina Rep. Jon Hardister said the General Assembly plans to pass legislation that would push $75 million into the Rapid Recover Program for small businesses.
"Small businesses are defined as having 50 or fewer employees so we really want to focus on helping businesses that are truly small," said Hardister.
The loans will be available at a low-interest rate.
Small businesses will be able to apply for loans up to $50,000, according to Hardister.
"We have to do everything we can," he said.
To learn more about the Rapid Recovery Program, visit the Golden Leaf Foundation's website.
Hardister said the money could be available for businesses within the first two weeks of May.
The U.S. Senate came to an agreement on additional funding and passed legislation to help replenish the Paycheck Protection Program. A vote in the U.S. House could come as early as Thursday morning.
Money for the Paycheck Protection Program ran dry last week and many business owners hadn't been approved.