COLUMBIA FALLS — A Flathead company is back on its feet after receiving a Personal Paycheck Protection Loan.
When coronavirus hit, owner and operator of the Montana Fly Company, Adam Trina, said that the virus hit at the worst time during their revenue cycle.
The Columbia Falls supply company creating fly fishing products for fly shops around the country.
The last time MTN spoke with Trina on March 21 he explained that the company had been struggling. "We were kinda at the bottom of our resources, and then, this thing hit and there was a lot of uncertainty."
Trina said that he had to lay off a handful of staff in March to keep his business running.
He applied for a Personal Paycheck Protection (PPP) loan in April and was approved shortly after. Under the CARES Act, the loan is designed to help businesses through coronavirus.
"If we had not had gotten this PPP loan, then we would've had to keep the people we laid off that we had to lay off in late March and we would've not been able to have those people on board to help prepare for May which we were hoping was going to be a big month and it turned out it was," said Trina.
Trina said that because of the PPP loan, revenue in both May and June have been exceptional sales months. "We're sitting at almost on par, not quite on par with where we were last year in May this time, or June this time. "But really, really close."
The company is now on track to exceed last year's revenue, "if things continue on the same trajectory that they are now, we're going to have actually, potentially one of our best years ever," said Trina.
According to the US Small Business Administraion's website you can apply for a PPP loan if you're a small business, non profit, veteran or tribal organization. You can also apply if you're self employed. Click here for more information.
