ROCHESTER, N.Y. — Although a recent Global Strategy survey showed that only 12% of minority-owned businesses received the help they applied for from the Paycheck Protection Program, at least one Rochester business owner is optimistic about his chances.
Michael Goode owns Roc City Ramen.
“I’m not sure how to exactly to react or how much is actually getting trickled down to the small businesses, especially restaurants,” said Goode, referring to the latest federal stimulus package.
Knowing that many minority-owned businesses were unable to get a PPP loan from the first stimulus package, Goode counts himself lucky.
“It kept me in business. There’s no doubt about it. The amount that I was given, kept the doors open, my employees paid. It was helpful,” said Goode.
Goode intends to apply a second time and is hopeful more will be able to get a loan this time around.
“It’s very difficult for everybody right now. It’s important that everyone get some help and relief. I think right now and in the future, keep what businesses are open, still open,” said Goode.
Goode is unsure when more relief will be on the way for his business, as he had to wait several months before he got it the first time.
However, Goode is optimistic things will go faster because they already have his information from the previous loan.
“There’s pros and cons to it, it’s very helpful but the amount of time it takes is detrimental to others. I’m one of the fortunate businesses that’s been able to stay open. But once again, I’m one of the lucky ones, but it’s a struggle to do that,” said Goode.