92% of small businesses are feeling the negative impacts of COVID-19, according to the National Federation of Independent Business. Kevin Barnhart has the story.
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National media outlets are reporting the CDC is set to recommend Americans wear a facemask when out in public to slow down the spread of COVID-19…
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92% of small businesses are reporting a negative impact from the COVID-19 pandemic according to a nationwide survey conducted by the National Federation of Independent Business. NFIB state director Dawn Starns says small businesses can only last for so long before throwing in the towel.
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Starns says the leading factor is slower sales as reported by 80% of small businesses.
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Starns says some businesses are choosing to forego the use of loans from government programs because they don’t want to get tangled in the extra paperwork or debt.
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The White House is reportedly set to recommend Americans wear a facemask while out in public to halt the spread of coronavirus.
Governor Edwards says the state is awaiting official federal recommendations before calling for public face mask usage in Louisiana, but…
Many Asian countries, which have had far more success than western countries in slowing COVID cases, practice widespread use of public mask-wearing during viral scares.
There’s been a rash of articles and tutorials in recent days about how to make your own facemask at home, and Edwards is asking folks to use those, and not N95s.
Most online tutorials say you only need some cloth, like handkerchiefs, and elastic bands to make the most basic DIY mask.
Edwards says if the CDC does call for masks it likely would not be an order.
The decision would be a sharp reversal in federal messaging. In March the US Surgeon General told Americans to stop buying masks because they don’t stop coronavirus transmission.
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The Army Corps of Engineers began opening the Bonnet Carre Spillway today to protect New Orleans levees from the rising Mississippi River. For the first time ever, it’s the third straight year the flood structure has been utilized. Colonel Stephen Murphy says opening bays on the spillway diverts part of the river’s flow away from New Orleans
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Murphy says it’s been another tough year for the River. To date, they’ve been in a phase one flood fight for 87 of the 93 days this calendar year.
COVID-19 may have many workers staying home, but Murphy says levee workers are essential.
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Businesses with under 500 employees can now apply to receive a Small Business Administration loan from the feds to help cover payroll, and some other expenses for the next two months.
CPA Ben Vance says businesses who qualify get a loan amount that is determined by the SBA.
Vance is the Postlethwaite and Netterville Consulting Director.
The funds can only be used for payroll, rent, utilities, and some interest costs, but Vance says it’s really intended to keep your workers employed.
The loans come in two forms, a disaster loan, and a payroll loan, but Vance says the emphasis is on payroll loans at the moment.
Vance recommends interested small business owners “get in line” to apply for the loans now because there’s a lot of interest.
The CPA also warns that this is only a temporary fix and buisiness owners should be preparing for what will happen once the two month period ends.