Forbes: How the Coronavirus is impacting small business owners

In a Zoom press conference call sponsored by The Main Street Alliance, a national network of small business owners, I heard other entrepreneurs discussing their coronavirus-related concerns and the actions they, and their communities, have taken. Some were grateful for local efforts to bolster small-business owners, such as residents buying their gift cards. Some have changed how they assist customers, such as offering curbside pickup.

But many shared an overriding fear: rising debt loads. One Seattle owner was already tapping her credit cards to cover payroll, and only making the minimum payment. Although the entrepreneurs on the call were glad about the news that the SBA was gearing up to offer low-interest loans, they felt the inevitable burden from the loans could be devastating down the road.

Read full piece here.