Stimulus Money Dished Out In Loan, Grant Form - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Stimulus Money Dished Out In Loan, Grant Form

Jeff Hunt, local business owner Jeff Hunt, local business owner

By Megan Moore
NewsChannel 10

Amarillo, Texas - Getting stimulus cash seems to be more lucrative for government agencies than it is for small businesses.

The Obama administration's website, www.recovery.gov, is not that easy to use.

So we found another website that breaks down how the stimulus money has been spent, county by county.  We also found small businesses are paying back their stimulus money, while public, government entities received it for free.

President Obama says he wants to help small businesses, saying he wants to be "making sure small businesses are still getting lending."

They are getting lending, especially when it comes to stimulus cash.

Jeff Hunt, a local business owner, says he had to take out more life insurance policies to get a loan from the stimulus package.

He says "we're paying about 6-8 percent interest" on a 3 year loan from the stimulus program.

Meanwhile, entities like the Texas Department of Transportation and the City of Amarillo received grants from the stimulus package.

Hunt says some of his fellow business owners are still having trouble even getting a loan.

He says, "I know some are having a hard time getting help with the money that is supposedly available."

Hunt says he does not believe the stimulus package has helped any small business owner, as the administration said it would.

If you would like to see the breakdown of stimulus dollars, take a look at this website: www.propublica.org .

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