Eddie McBride Talks PPP Loans and Lubbock Vaccinations
Tuesday on KFYO Mornings with Dave King and Matt Martin, The President and CEO of the Lubbock Chamber joined Dave and Matt to talk about PPP loans, COVID emergency loans, vaccinations, the Texas legislative session, and more.
McBride started the discussion by talking about the new round of Paycheck Protection Program loans, or PPP loans, as well as general COVID-19 emergency loans, that are happening today. When asked about PPP loans, Eddie explained that they are a type of loan for small businesses to help give some relief during the pandemic, but that you can only apply under certain circumstances. Requirements include the business having 300 employees or less, which is fewer than the last time PPP loans were given, and your business needs to have had greater than 25% reduction in gross receipts from one year to the next. The loan is also forgivable under additional conditions. Eddie suggests applicable businesses get these loans pretty quickly, and says that the Chamber is having a webinar this afternoon with Neil Bradley, the Executive Vice President & Chief Policy Officer at the U.S. Chamber of Commerce concerning PPP loans.
The President also talked about COVID-19 vaccinations that are being distributed in Lubbock. While the Lubbock Chamber of Commerce has not been directly involved, they have been promoting distribution and pointing people in the right direction. Eddie is aware that groups are trying to expand chances for vaccinations by opening up more clinics, and he recommends that people call their doctors or the health department to try and make an appointment. McBride also said that there is always some confusion when things like this start, but that Lubbock has done a very good job getting it started.
McBride also discussed the ongoing events going on at the Chamber, including Lubbock Leadership classes which are starting, and the Young Professionals which is already up and running. Eddie also reminds us that it is still hard to do things in person, so they are planning everything virtually for the next month or so. The Chamber is also keeping its eye on the Texas Legislative Session which starts today.
Watch the full interview with Eddie McBride in the video above.