Name: Lincoln-based travel business gets back to work thanks to Paycheck Protection Program loan
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Lincoln-based travel business gets back to work thanks to Paycheck Protection Program loan

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Sign up now to get the most recent coronavirus headlines and other important local and national news sent to your email inbox daily.Please subscribe to keep reading. You can cancel at any time.Loading&amp;hellp;{{title}}{{description}}{{banner}}(renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax){{tagline}}{{special_title}}{{html}}You are the owner of this article.You have permission to edit this article.© 2022 Lee EnterprisesShare ThisLincoln-based travel business gets back to work thanks to Paycheck Protection Program loanShare thisSteve Glenn has run a successful travel business for 34 years, but the coronavirus pandemic put that history of success at risk.Glenn, who owns Lincoln's Executive Travel, said the pandemic delivered a "knockout punch" that froze almost 90% of the company's business as people stopped traveling over the past few weeks.That required him to take "stay-alive" measures that included furloughs, cuts in hours and pay cuts for his staff.But Glenn got a lifeline thanks to the Paycheck Protection Program that's part of the federal stimulus package. The program provides low-interest loans that are forgivable if companies use them to keep workers employed.Glenn applied right away with Union Bank &amp; Trust, got approved quickly and received his money Friday, just seven days after the application period opened.On Wednesday, he held a "grand reopening" and virtual ribbon cutting to celebrate the return of his employees&nbsp;— most of whom handle responsibilities remotely&nbsp;— to work."We think we're one of the first travel-management companies in the industry to get all our employees back to work," Glenn said.However, he said the company and the industry is "not out of the woods yet.""Until we get through this monster of a virus, the travel industry will be slow to come back," he said.That means there's not a lot of travel booking to be done, at least for a while.So Executive Travel will use the time instead to beef up employee training.&nbsp;Employees will be scheduled for anywhere from 24-32 hours of training a week. About 80% of the staff of 50 works from home&nbsp;— spread out across seven states&nbsp;— and will continue to do so. About 10 administrative and executive employees work in the office, where Glenn said they try to do "maximum social distancing."For now, though, Glenn said he's just glad to be able to put people back to work."Today is a day to be joyous and joyful and to celebrate," he said.While the company may have been one of the first in Lincoln to get its stimulus money and put employees back to work, it won't be the last.The Nebraska Bankers Association reported that as of Monday, there had been 18,565 Paycheck Protection Program loans worth more than $2.7 billion approved for Nebraska businesses. It's unknown how many of those businesses have already received their money.Reach the writer at 402-473-2647 or .On Twitter @LincolnBizBuzz.Sign up now to get the most recent coronavirus headlines and other important local and national news sent to your email inbox daily.More than 18,500 Nebraska businesses had been approved for the loans, with the amount topping $2.7 billion.&nbsp;{{title}}{{summary}}You don't have any notifications.Get up-to-the-minute news sent straight to your device.Topics

Sign up now to get the most recent coronavirus headlines and other important local and national news sent to your email inbox daily.Please subscribe to keep reading. You can cancel at any time.Loading&amp;hellp;{{title}}{{description}}{{banner}}(renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax){{tagline}}{{special_title}}{{html}}You are the owner of this article.You have permission to edit this article.© 2022 Lee EnterprisesShare ThisLincoln-based travel business gets back to work thanks to Paycheck Protection Program loanShare thisSteve Glenn has run a successful...

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Lincoln-based travel business gets back to work thanks to Paycheck Protection Program loan

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