Lincoln business owner receives loan before national program runs out

Osborne applied for the Paycheck Protection Program, which provides forgivable loans to help small businesses through the coronavirus pandemic.
Loans

The Best Of Big Red is one of the local businesses that have received their small business loan and they’re ready to open the doors back for some employees.

“So, it’s a very tricky balance,” Mike Osborne, Owner Of Best Of Big Red. “I would say our governor and our mayor and our local banks have done a great job supporting local businesses. We feel lucky here that we’ve been able to stay in business.” 

Osborne applied for the Paycheck Protection Program, which provides forgivable loans to help small businesses through the coronavirus pandemic.

The store had to cut hours for some of the workers but now with the help of the program, Osborne is looking forward to giving more hours where he can.

“We applied for and received $85,000,” adds Osborne. “So, that will sustain us through those eight weeks, help us pay all of our employees, and add back some of the part-timers.”

Nationally the program ran out of funds as the monies were claimed by last Thursday. 

Governor Ricketts said in the Monday press conference that Nebraska is rated as the top state in the nation to get loans to its local businesses.

“We’re all very thankful that we’re still able to be employed,” Joey Rupp, an general manager. “Unfortunately, there’s a lot of people who don’t have that option. So, we are very lucky and very thankful that we are still able to work and keep our doors open.” 

The Best Of Big Red still wants to give back, creating shirts and masks where some of the proceeds will benefit others.

“25% of the net proceeds from those items will go to the Nebraska Food Bank which is a great organization,” adds Osborne.”They do a great job helping people in need.” To see those products, visit https://www.bestofbigred.com/

Categories: Consumer News, Coronavirus, Nebraska News, Top Stories