The effects of COVID-19 haven’t been easy for businesses and nonprofits, but Amegy Bank is committed to helping them recover. Here’s how some of our clients are using their Paycheck Protection Program loans to support their payroll and protect the future of their organization.
K Renee Salon
For Karen Murray, owner of K Renee Salon, the coronavirus outbreak and subsequent lockdown measures first disrupted, then threatened the survival of the business she started 16 years ago. Gradually, then all at once, the salon had no revenues from mid-March to early-May all while facing lease payments, monthly expenses, payroll for 12 employees and responsibility for 20+ contractors to make their living. She was also just completing a 6,000 square foot remodel funded out of salon savings.
The Paycheck Protection Program loan was more of a lifeline than a stimulus for K Renee Salon. Karen was able retain her salon staff, and many relieved and grateful contractors were granted a financial reprieve into their professional recovery phase. “Many uncertainties certainly remain in the immediate future. But the strength and conviction I received from Amegy Bank was unwavering,” said Karen. “They provided not only hope, but also opportunity, through clear, decisive direction in the most trying of times.”
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