PHOENIX — It’s been almost a year since businesses across the Valley were told to close for just two weeks.
Experts hoped the move would quickly flatten the COVID-19 curve, but it was just the beginning as seen by a second round of Paycheck Protection Program (PPP) becoming available for struggling businesses.
“It’s been rough,” said Leanne Shearer, who owns two Anytime Fitness gyms in Prescott Valley and Chino Valley.
Shearer recently applied for her second round of PPP, which is a government forgivable loan for small businesses. But even now, a year after applying for her first one, the extended shutdown has left her business's future uncertain.
"We stopped taking money in, but our overhead was still there. And our overhead is about $50,000 a month. So, it was really like hanging onto the edge of your chair every day thinking, ‘what are we going to do.’"
Julia Hann shares similar sentiments. In addition to selling intimate apparel, her Tucson business called Alice Rae specializes in post mastectomy products that are best fitted in person.
“A lot of my customers are over the age of 50, because of the breast cancer portion of our business,” Hann explained. “And they are just terribly afraid to come out of their homes until they get their vaccinations.”
Unfortunately, it proved very difficult to fit customers remotely. As a result, business has been very, very slow.
“It’s been frustrating to say the least because you don’t have any answers to when all this is going to end.”
At this rate, Julia says she cannot keep her doors open much longer. As for Shearer and her gyms, “We will survive.”
Businesses eligible for PPP must have no more than 300 employees, lose 25% or more in revenue and use or will use all the first PPP loan. Beginning in the second week of March all eligible businesses can apply. For more, visit the official website.
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