![]() The idea was to get money to underserved communities and minority business owners. The $30 billion ran out in less than two days, according to Kenneth Kelly, chairman of the National Bankers Association, which represents minority-owned banks.Ī government watchdog found minority and women-owned businesses may not have received loans because the Small Business Administration did not tell lenders to prioritize underserved communities as called for under the law. When the program reopened with more funding, $30 billion was set aside for smaller lenders. Small businesses like Bronx Native initially struggled to get their applications processed amid the confusion and technical problems that plagued the rollout of the program, while a number of publicly traded companies who were clients of big banks were approved for loans before the first round of money ran out. Bronx Native has since been approved for a $25,000 loan through Paypal. Grullon said he was totally in the dark when he first started looking into applying for funding a month ago. Understanding the program and its rules, navigating the application and getting the right documents together in such a short time was frustrating. Unlike Chase, neither Ponce nor Paypal require applicants to have existing accounts, which has made it easier for many small businesses to apply. He applied at Ponce Bank and also through PayPal. Grullon originally tried to apply through Chase, but he heard from other business owners he might have a better shot with a smaller community bank. Grullon has applied for a small business loan through the federal Paycheck Protection Program to help keep the store afloat. He survived the virus and is healthy now, but it's unclear if Bronx Native will survive the shutdown. 'It just hit home'Ĭaceres' lungs started responding, his condition started to improve and he was taken off intubation. "I truly feel like if I was alone I probably would have died because I wasn't aware of anything - I couldn't do anything," Caceres said. During those 11 days, his mother Dorka feared for his life and would call the hospital constantly to check on his condition. His family wasn't able to visit him while he was hospitalized and intubated due to protocols to prevent the virus from spreading.Ĭaceres' lungs and kidneys weren't functioning properly. That's around the time Caceres went unconscious. His mother and brother saw how ill he suddenly looked and called the ambulance again. ![]() " I would just take a few steps and it felt like I ran a marathon." "I couldn't breathe - I was literally just gasping for air," Caceres said. But his condition quickly deteriorated after the EMT visit as he started experiencing severe shortness of breath. ![]() The EMT checked Caceres, said his heart was fine and decided against taking him to the hospital because he didn't display symptoms of the virus. Personal Loans for 670 Credit Score or Lower ![]() Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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