By Ray King

A new program through the Small Business Administration is designed to help small businesses stay in business through the Corona virus pandemic.

Daniel Robinson of Simmons Bank said Wednesday the program is a spin-off of other SBA programs and is designed to help the small businesses pay their employees can continue to work.

“That’s why it is so important for us and for other banks to push out as many of these as we can,” Robinson said.

He said one of the most attractive facets of the program is the forgiveness angle.

“So many companies may be able to do this and be able to pay their folks and have forgiveness and that’s a great thing for them,” he said.

Robinson also said this program has never been offered before.

He said he is aware of several loans that the bank has processed under the program\.

“We’re able to deposit the money directly into the customer’s account and they’re able to utilize it to help pay their payroll, rent or utilities,” Robinson said.

You can listen to the entire interview with Daniel Robinson are the audio link below: