Out of the 36 responses, 19 business leaders, or 53%, said they are doing slightly or much worse than pre-pandemic compared to 15 business leaders, or 42%, who say they are doing slightly or much better and two, or 5%, who say they are doing the same.
This latest round of PPP once again gives small businesses and, for the first time, 501(c)(6) organizations, potential access to an essential safety net through up to two forgivable federal loans.
By John Asbury CEO, Atlantic Union Bank on December 30, 2020
John Asbury
The latest MetLife and U.S. Chamber of Commerce Small Business Index Survey confirms that small businesses remain concerned about the ongoing impacts of COVID-19. According to the study, “More than three in five (62 percent) small business owners believe the worst of the COVID-19 pandemic is ahead of us.
“With many anticipating worse times, it’s not surprising many small businesses see the need for temporary, targeted government assistance. Nearly three-quarters (74 percent) say additional federal relief funds would be important to their business’s ability to succeed in 2021.”
Fortunately, the “Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act,” was signed into law as part of a broader stimulus bill related to the ongoing COVID-19 emergency. The bill reopens the lending window for forgivable U.S. Small Business Administration Paycheck Protection Program loans through March