MIDLAND, Texas (Big 2/Fox 24) – Small businesses in the Tall City are getting more economic relief as the pandemic worsens in the Permian Basin. The Midland Development Corporation is setting more money aside to help them during these times.
“You are thinking about this every 24-hours and you’re worried about when the Governor or the President comes on to speak so this is a non-stop issue and there is a long long road ahead of us,” said Jerry Morales the Gerardo’s Casita Owner.
Sara Harris, the MDC Director of Operations said, “Small businesses are a core of the economy in the Permian Basin and in Midland. During these unprecedented economic times, we know that our small businesses need help more than ever.”
The Midland Development Corporation is putting aside $1-million from their promotional fund to help businesses who either did not qualify or didn’t get a chance to apply for PPP Loans. Small business owners can apply for forgivable loans of up to $25,000.
“They are missing out on federal funding but they still need assistance. They are an integral part of the Midland business community and we want to make sure that those businesses didn’t fall through the cracks,” said Harris.
Small Business Owner Jerry Morales said thankfully he was able to receive a PPP Loan but he understands how much a local business can struggle especially in times of crisis.
“You know it’s just been a long road, very stressful, your nerves are on edge, you don’t sleep, you’re always thinking about how am I going to pay utilities how am I going to pay bills?”