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Small business grants have run out, so what happens now?

Local 5's Matthew Judy has the story of a local business that applied on the first day but hasn't heard anything yet.

DES MOINES, Iowa — The $350 billion set aside for small businesses in the CARES Act has now run out. 

In downtown Des Moines, Bubba is like any other restaurant right now. 

"We are still just working one to go order at a time trying to get through it," managing partner for Bubba Southern Comforts Chris Diebel said. 

But that got a little bit harder on Thursday morning

"As of today that money has run out. We are hopeful they will re appropriate funds and we'll have another shot at it but we are assuming at this point we will have lost our line in the queue," Chris said. 

With the announcement today the nearly $350 billion for small businesses from the CARES Act has been given out, some businesses like Bubba are left out in the cold. 

"Knowing that we did everything in good faith and doing everything on time and even early and still not getting it and hearing any definitive information has been frustrating," Chris said. 

RELATED: Read this before you raid your 401(k) during coronavirus crisis

The restaurant had applied for a 6-figure grant, money that would've been used to bring back back a majority of it's employees. 

"It means a delay in bringing back our people. We've had to lay off the vast majority of our staff and that was how we were going to get up and running again," Chris said. 

But for now they're stuck waiting to see if more help will come. 

"It's an hour by hour check your phone constantly to see what the latest is from dc and that's frustrating," Chris said. 

The restaurant had about 40 employees but have cut back to just three.

RELATED: Small business lending program on hold after reaching lending limit

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