Reasons to
p. 6
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Top Hiking Trails
p. 10
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Insurance for Teen Drivers
p. 14
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Making a Budget
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Editor:
Patricia Dedrick Lloyd
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Dedicated to
Small-Business Success
TABLE OF CONTENTS
e Paycheck Protection Program (PPP) rolled
out in early April to help small businesses facing
financial hardships triggered by COVID-19 layoffs
and business closures.
Redstone received the PPP application and loan
guidelines the day before the program launched.
Our business staff worked diligently to accept
applications and submit them for approval.
Before the first round of funding ran out, Redstone's
business members were approved for $12.5 million
in loans from the program. Lanny Vannoy, owner
of Posh Mommy & Baby Too!, was one of those
businesses. He said he first tried applying through a
large bank but never heard back from that bank.
A second round of funding was released in late
April, and we continued working to get our members'
applications approved.
By early June, $30.2 million had been approved
for more than 900 business members through the
stimulus program.
e deadline for submitting an application has
now passed.
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