U.S. Senator John Boozman (R-AR) recognized Arkansas small businesses for their successful participation in the Paycheck Protection Program (PPP) in commemoration of the first anniversary of the lifeline’s launch.
Congress created the PPP as part of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act to help tackle the financial challenges of small businesses. This legislation passed unanimously in March of 2020, and the Small Business Administration swiftly opened program enrollment on April 3, 2020. The PPP has helped keep small businesses afloat during the pandemic-fueled economic downturn by providing low-interest loans with a portion eligible for forgiveness.
Boozman featured on his social media channels five Arkansas small businesses that received PPP funds to maintain operations:
KTCS 999 – Fort Smith
When businesses and schools were forced to close in 2020 because of the public health emergency, Fort Smith radio station KTCS 999 modified its operations to keep its staff safe. Advertising revenue plummeted for the family-owned business as companies kept their doors closed and station leaders needed a way to support their 17 employees.
“We have families that live right here that depend on us and we need to give them security that we’re here and they have a job. And when they’re watching advertising dollars not coming in, they’re worried,” KTCS 999 General Manager Melissa Eckelhoff said in a video. “When the PPP loan was offered we were very thankful. We jumped on it.”
Eckelhoff says while advertising still hasn’t returned to pre-2020 levels for her station, the PPP funds have allowed her to keep all of the employees on staff. “We’ve worked really hard to maintain it, but it is because of Senator Boozman and the PPP loan.”
