CHARLOTTE, N.C. — As the coronavirus crisis continues to shut down North Carolina’s economy, the financial future for some local small businesses is getting bleaker.
“Since March the 23rd, we’ve taken about over 3000 calls,” said Chad Turner, the chair of the LGBT Chamber of Commerce.
Turner says their chamber, the Black chamber, Carolinas Asian chamber and Latin American chamber haven taken about 150 calls a day from small businesses or their employees. “What we’re learning is about 15-20% as of yesterday are sitting with less than 2 weeks of cash flow to continue being open during the pandemic,” Turner said.
Turner says the chambers are now trying to help them get loans.
“To navigate the application process, get the forms that are needed, and also advocate on their behalf,” Turner said.
Other small business owners, like Sarah Baucom, were more concerned about how the city was planning for the future.
“As we’re seeing Georgia and South Carolina opening up, how long are we going to have to prepare,” Baucom asked. “Some of us 5-6 weeks have been closed so basically our storefronts are not ready.”
Baucom says whenever reopening day does come, there’s still the issue of safety.
“What are we going to do?” Baucom asked. “How are we going to protect our customers? How are we going to protect ourselves? Is there going to be some sort of city regulation?”
Vinay Patel, the president of SREE Hotels, says that issue echoes across the hospitality industry, too.
“What do we need to do, how do we clean,” Patel said. “We’re doubling down on our cleaning procedures, how do we promote its ok to get back out?”
Overall, the small business owners believe the city establishing best practices will be critical for customers to feel comfortable getting back out. If you need help getting a small business loan, you can visit supportclt.com.
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