'When we lose small businesses, we really lose a lot more than just that one business. I think the ripple effects spread out, and they spread out in ways that are unfortunately very lasting, in ways that shred communities and neighborhoods'
When Genevieve Villamora left her house for the first time after battling the novel coronavirus for six weeks, she was struck by how much her neighborhood had changed --"For Rent" signs plastered on storefronts, one block after the next.
If used just to pay a skeleton crew, with 75% of her staff cut since March, Villamora's loan, she said, will help her last through the end of the year. She and her staff are focused on covering costs, never mind turning a profit."The way it feels," she said,"is like we're being asked to rebuild a house on sand that is shifting under us all the time."
"People are incredibly resilient and resourceful, but all of their resourcefulness and new business ideas for streams of revenue will come to naught if the pandemic continues to worsen," Villamora said. Donahue said the $100,000 in PPP she received went almost entirely to payroll expenses during the months she couldn't allow customers inside. That money's gone, and even with limited in-store shopping now allowed, she can't host events that helped land additional customers.
"The toy and hobby business is really built on surviving March through October, and then making all of your money November, December, January, February," Brey said."If we were to shut down again in the fourth quarter, that would be bad."
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