The first wave of RV dealers to apply for forgivable SBA loans under the CARES Act’s Paycheck Protection Program have begun getting their checks.
Kim Coker, owner of Buy RV Sell RV in Oronoco, Minnesota, recently received his loan from a local bank. The dealership is temporarily closed due to help stop the spread of COVID-19.
Coker hopes to use the money to pay his 10 employees, he told KTTC News.
“I probably would have paid them out of my personal pay, so it avoided me from doing that,” Coker said.
Coker expressed confidence the business will survive the current pandemic just as it survived through the 2008 stock market crash and recession.
“RV went down about 9 percent that year,” he said, “and it’s about the same now.”
Click here for the full story and video from KTTC in Rochester, Minnesota.
Click here for information on applying for a forgivable SBA loan through the Paycheck Protection Program.
