SIOUX FALLS, S.D. (KELO) – The Paycheck Protection Program is giving some businesses some extra cushion as they try to keep paying employees during this uncertain time.
Child’s Play Toys in downtown Sioux Falls is one of the businesses that qualified for the first wave of federal assistance.
The doors are temporarily closed at Child’s Play Toys in Sioux Falls.
But Nancy Savage’s business is still taking orders online and over the phone, and even doing curbside pickup and free deliveries in the Sioux Falls area.
“We’re not obviously doing even close to the business that we were before this, but I am just so, so grateful that people are still contacting us,” Child’s Play Toys Owner Nancy Savage said.
“They need puzzles, and books, and games to keep kids busy at home and to supplement learning at home so the need is definitely still there,” Child’s Play Toys Employee Jessica Anderson said.
Now Savage and her employees have more of a safety net to keep doing business thanks to the Paycheck Protection Program.
“It’s for eight weeks of payroll protection, is basically what it is, so that really, really will help me. We had funds saved enough to get through a couple months,” Savage said.
Savage says the money is sitting in a separate account, but she’s waiting to see what’s in the business forecast before she uses it.
“Say we were fortunate and got to open tomorrow, then I would be able to give the whole thing back and not use any of it. But right now if it does extend for a couple months then I probably will have to dip into it,” Savage said.
For now, Savage says it’s a huge weight off her shoulders.
“Without it, I don’t know, I could’ve gone just a few months, but now I just feel like, ‘Ok, now I can get along a little bit longer if I have to.’ It just is that safety net. I hope I don’t have to use it, but if I do it’s there,” Savage said.
The Small Business Administration is not accepting new applications for the Paycheck Protection Program at this time because it ran out of money.
The U.S. Senate has approved an additional $310 billion for the program as a part of a coronavirus relief package.
The House could vote on it as soon as Thursday.