▶️ SBA loans, crowdsourcing helping to keep small businesses afloat

By MEGHAN GLOVA
CENTRAL OREGON DAILY

Paulina Springs Books was one of the lucky ones.
 
The bookstore in Sisters received a loan through the Small Business Administration. But owner Lane Jacobson said it’s not enough to keep the store afloat, especially without the vital summer tourism season.
 
“We basically operate at a loss for like four-fifths of the year,” said Jacobson. “And it’s the busy summer season and two or three weeks in December that really pay for the rest of the year.”
 
As for the process to receive a loan, Jacobson wasn’t impressed.
 
“The government and the SBA were changing terms of the loans and terms of just the application process and everything up until like the night before,” Jacobson said.
 
Jacobson set up a GoFundMe to supplement the bookstore’s revenue and raised almost $20,000 in less than twenty-four hours.
 
“You know, it’s fantastic,” Jacobson said. “It’s great to see that the community of Sisters kind of rally behind an institution that’s almost been here for 30 years.”
 
Jacobson said all they can do is take it day by day and continue phone and online orders, curbside pickup and book deliveries within Sisters.
 
“It’s a lot, but we’re doing it,” Jacobson said.
 
Jacobson said he’s not letting a potential reopening plan get to his head. The bookstore will continue to run as it has been the past couple of weeks until they feel it is safe to do otherwise.
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