Longview Times

The outbreak of COVID-19 has caused economic damage that is difficult to quantify, and despite the number of federal assistance programs that have been rolled out, not all small businesses will receive aid. 

According to The Panola Watchman, Angie Stone of GADTees applied for aid under the Small Business Administration's Payroll Protection Program. While many other businesses heard back, Stone did not. 

“I think that most of Carthage is made up of small businesses, especially down on the Square,” Stone told The Watchman. “I don’t think any of them got any money. The only place I do know that got money went outside of Carthage to a bank in Tenaha to get the money."

Stone said she was disappointed by the fact that many small businesses — with well under 500 employees — did not benefit from the funding. 

On the other hand, many large chains — Ruth’s Chris Steakhouse and others — applied for loans and were approved.

“This was supposed to be for true small business owners,” Stone said. "Because we are a small business and most of our employees are contractors, we don’t qualify for unemployment."

Additionally, select banks have decided not to take part in the financial aid program, making the paperwork process complicated for business owners who are filling out applications for aid. 

“It’s very complicated and most of us don’t have accounting departments and bookkeepers,” Stone said. 

Fortunately for Stone’s business, local banks have stepped up and helped her. But for many business owners, the closing of their physical storefront meant that all sales had to be conducted online, which is a challenging change 

“If this keeps up much longer we might not survive this,’ Stone said. “There will be some places in Carthage that don’t make it.”