SAN ANTONIO – A local small business owner is concerned about the economic impact of her business following the COVID-19 outbreak.
“I’m certainly worried as a small business and more about the longer-term economic issues we’re going to face. And, sort of, what we already started feeling -- you know -- people are staying away and staying home,” said Jessica Brown.
Small business owners are expected to take a big hit as local events, including Fiesta, have either been postponed or canceled.
“I’ll set up as a vendor at a few of the events. I know several of my friends who are incredible makers and participate in these depend on it a lot,” Brown said.
The U.S. Small Business Administration is offering certain states low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the coronavirus.
The federal government agency is currently working with the State of Texas to identify small businesses in the state that qualify for an SBA Economic Injury Disaster Loan Declaration.
Gov. Greg Abbott must certify that at least five small businesses have suffered substantial economic injury in a disaster area.
To learn more about the loan visit here.
COVID-19, the respiratory disease caused by the new virus, stands for coronavirus disease 2019. The disease first appeared in late 2019 in Wuhan, China, but spread around the world in early 2020, causing the World Health Organization to declare a pandemic in March.
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