The Reno Running Company has grown every year since opening in 2011.
"We cater to people of all walks of life and activity level, really anyone trying to achieve some kind of active lifestyle goal," said owner Matt Balzer. "Whether it's running their first 5k, training for a marathon, just being comfortable on your feet all day at work, or being a daily walker; all sorts of people."
Like most businesses, dealing with the pandemic has taken a toll. The two locations had to temporarily close their doors in mid-March, and pandemic protocols are still in place. But, the business got a boost from the Paycheck Protection Program, a forgivable loan through the Small Business Association.
"We tried to get the Paycheck Protection Program through a couple of sources and ultimately we ended up with Greater Nevada Credit Union, which was a great process, and it has helped tremendously," Balzer said. "Being able to support payroll and rent at both locations has been hugely productive for us, and really the nicest thing is we were able to bring all the staff back in."
Greater Nevada Credit Union has been helping businesses with the process since it started in April.
"We did not turn a single business down," said President and CEO Wally Murray. "It was a challenge internally but the social importance was a bigger issue for us. We decided early on we were going to deal with the internal issues to support this program fully because we wanted to help as many businesses as we can."
So far the GNCU has closed more than 5,600 PPP loans, totaling $556 million, including more than 1,850 loans to Nevada companies, totaling nearly $115 million. The program has been extended to August 8, and Greater Nevada has pledged to help Nevada-based companies until that time.
"We know the important social mission of helping more people live greater, and that means helping them keep their businesses open and their employees paid," Murray said. "We are not going to run out of money; we've got plenty of money to lend and we're anxious to put it out in the community to keep the economy going locally. That is so important during all this and it's such a struggle, and we recognize that and we want to be part of the solution."
Businesses that apply don't need to be GNCU members, they just need to be based in Nevada. If companies abide by the PPP guidelines, the loans are completely forgivable and can make a big difference.
"More than anything it was mental, just a sense of calm that we were going to be able to make it through," Balzer said. "Myself, like I'm sure most business owners, we're going through with that fine-tooth comb just trying to figure out, day to day, how long you can survive, and having that buffer really helped. Just knowing that, okay, we've got this cushion now, so we were confident we were going to make it thorough. I feel great about the future."
Businesses can only receive the loan once, but can apply as many times as it takes to get accepted.
For more information, you can visit their website.
