Bellingham small-business owners struggle to find financing during coronavirus changes
As the days continue to blend together and everyone wonders when and how we will get through this coronavirus pandemic, adapting to the changes and remaining optimistic are emerging as key character traits.
Thats particularly true with small-business owners, who face uncertainty they couldnt imagine a few months ago. Many local stores and shops have now been closed for over a month, while others are limping along with trimmed-down services just to keep some revenue coming in.
Not only do they miss seeing their customers, but these owners are stressed about the very real possibility of bankruptcy and losing what they love to do. Asking for and getting financial help has been a frustrating experience: Rules continue to change, aid programs are overwhelmed quickly, the paperwork piles up.
Small businesses play a large role in Whatcoms economy. In a recent study by SmartAsset, Whatcom ranked third highest in its Small Business Index in Washington state and No. 202 in the U.S. The index looked at several factors, including small-business concentration and income generated by those small businesses.
https://www.msn.com/en-us/money/smallbusiness/bellingham-small-business-owners-struggle-to-find-financing-during-coronavirus-changes/ar-BB13dH5V?ocid=hplocalnews