Community raises money to help Davis gym owner repay loans opened during pandemic
DAVIS - A Davis gym owner has turned to the community to help pay back loans that kept her open during the pandemic. She is struggling with the debt combined with monthly operating expenses.
Amy Spence, the owner of Thrive in west Davis, is in awe after the outpouring of support online.
"Just the kindest words like, 'I'm praying for you,' 'I hope you survive,' 'You are doing great,' " Spence said.
The Davis native decided to share her story with a public plea online, inspired by another business owner who did the same.
"I was really scared to do it and embarrassed, but I was really glad I did," Spence said.
She created this GoFundMe page to save the business she's owned for nearly a decade.
"I started it because I had a passion for fitness. I was a stay-at-home mom with three kids," Spence said.
Her gym once had 135 clients, but COVID cut that in half. To stay afloat, she applied for federal aid through the Payroll Protection Program (PPP).
"But it was like $4,000 for me, and that didn't really help me when I had to be closed for nine months," Spence said.
So she then applied for the Economic Injury Disaster Loan program (EIDL). She got $30,000.
"I was desperate," Spence said. "I didn't know what to do. I knew that I couldn't get out of my lease. I looked into that. I couldn't get out of paying my employees."
Since then, she has regained enough clients to pay monthly operating expenses but not enough to repay the loan.
"The Eidle Loans is something a lot of small businesses are struggling with," Jeff Boone said.
Boone runs a statewide certified development company that has helped a thousand small businesses navigate the complicated COVID-19 relief programs. PPP loans were forgiven.
"A lot of paperwork and we helped with that. It's all based on payroll records and financial records," Boone said.
The EIDL programs were not. And Spence says she just can't get ahead.
"Can I keep doing this knowing what I'm making now and not having any guarantees in the future that I'm going to make more to pay off this loan," Spence said.
After bringing in new clients, offering new classes and more marketing, Spence is now asking the community she lifted up to return the favor.
"And move into the future with confidence knowing that I can make it. Cause right now I felt like I don't know if I can make it," Spence said.
In 48 hours since she started her GoFundMe, community members raised half of what she needed to pay off her debt.
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