Council hears update on stimulus loans
Most recipients are operating under modified conditions
Back in May, the City of Webster City announced that it would award loans to area small businesses impacted by COVID-19 related losses. Forty-seven loans totaling $150,000 were awarded to local businesses.
Tuesday night, Community Vitality Director Lindsay Henderson gave an update on the businesses to the Webster City City Council.
“After the first quarter, we did a status update to see how the businesses were doing,” Henderson told the council.
The businesses were surveyed to determine how things were going, if they had resumed normal operations or were operating under modifications still or whether they remain closed.
“The majority are — 31 businesses — are operating with modifications,” she said. “Four were able to resume normal operations and one reported they were unable to operate.”
Henderson said she was still waiting on nine businesses to respond to the survey.
The businesses were also asked about their revenues over the past three months.
“Unfortunately, the majority — 21 businesses — reported their business has been declining since May. Nine reported that business was steady and eight reported an increase in business,” she said.
Henderson also asked the businesses to report whether the past three months had been better or worse from the same time frame in 2019.
“Not surprisingly, the majority of respondents, 25, said that business was worse this year compared to last year, five said it was higher this year and six reported it was about the same.”
Henderson said none of the businesses had reported they would close permanently.
The council first approved the loan program back in April. In order to be eligible, the businesses had to be included in the governor’s proclamation, would have to have $500,000 or less in gross annual revenues and have 20 or fewer employees. The loans were awarded in the amounts of $2,500 and $5,000. Loan payments would be deferred for 12 months but would become forgivable if te business continues to operate in Webster City while abiding by all city codes, remaining current on city utilities and in good standing with the city.
Henderson said that all were in compliance with city codes and 46 are current with utility payments and one is working on a payment plan for utilities.
“The majority of the businesses used the funds to pay utilities, insurance, wages and in some cases supplies, inventory or (personal protection equipment),” Henderson said.
“Everybody has been very grateful for the assistance and some of them said that these loans are what helped pull them through,” she said.
The businesses next report will be due on Dec. 30, she added.
• GWR Enterprises LTD dba Webster City Links Golf Course, $2,500;
• The Dance Connection, $5,000;
• The Mane Attraction, $2,500;
• Old New & Things to Redo, $2,500;
• Platinum & Red Hair Salon, $2,500;
• The Paw Print Pad, $2,500;
• Salon Meraki, $5,000;
• North Central Chiropractic, $2,500
• Turning Heads, $2,500;
• Cards Tan-n-Fold; $2,500
• Riverview Early Childhood Center, $5,000
• Seneca Street Saloon, $2,500;
• C&C’s American Tap, $5,000;
• JB’s Antiques & Variety Place, $2,500;
• Shanti Rejuvenation Center, $2,500
• Home Health Solutions & Subs Inc. DBA MyMedMart, Inc., $2,500
• Pure Healing Massage Therapy, $2,500
• Interior Spaces, Inc, $5,000;
• Help Entertain & Restore Organization, $5,000;
• Leon’s Pizza, $2,500;
• Al’s Barber Shop, $2,500;
• Underground Ink, $2,500;
• Mornin Glory Coffee, $2,500;
• Sandi’s Attic, $2,500;
• Designer Graphix, $2,500;
• Spa Nails by Hien LLC, $5,000;
• Lupitas Bakery, $2,500;
• Gilbert Jewelers Inc, $5,000;
• David’s Gallery, $2,500;
• Evans Floor Covering, $2,500;
• Coneys Plus, $2,500
• R&K Birkestrand Inc DBA Osweilers Fashions, $5,000;
• Lunchbox Market, $2,500;
• AMP Enterprise (Super 8), $2,500;
• Flower Cart, $5,000;
• Laurynne LLC DBA RC Mechanical, $2,500;
• Chicago Style, $5,000;
• Taqueria La Bamba, $2,500;
• Gilbert Flooring and Paint, $2,500;
• Russ’ Barber Shop, $2,500;
• El Taco Riendo Foods, $2,500;
• Moore Cleaning Service, LLC $2,500;
• American Legion Post 191, $2,500;
• Webster City Day Care, $5,000;
• Sports World Inc, $5,000;
• PrimeLife LLC, $2,500;
• The Hair Mechanix, $2,500.