Still Struggling: Stimulus shortfalls leave small businesses feeling the pinch

U.S. & World

(NBC News)  As streets empty due to the spread of coronavirus, so do the pockets of shop owners.

“We had at least 95% of our business go away,” says Kim Williams, owner of the Enchanged Florist in Burbank, California. 

The flower shop is one of 30 million small businesses in the United States now struggling to make ends meet.

“We have a little bit in reserve, but not a lot and not enough to continue on for too much longer,” Williams says. 

Some businesses have been able to stay open, but in most states those deemed “non-essential” have been forced to close their doors, and the bills are piling up.

The stimulus bill promised relief, with $350 billion earmarked for small businesses, but after Friday’s rocky many who’ve applied say they’re left in limbo.

“I’ve heard nothing, received nothing,” says restaurant owner Greg Morris.

He says even if the money comes through, it won’t be enough.

“It’s the proverbial band aid on a broken leg,” Morris says.

As lawmakers consider additional aid, some fear it’s already too late.

“I think it goes a long way, but we’re still going to see a large number of businesses fail because of this coronavirus crisis,” Lending Tree’s Tendayi Kapfidze predicts.

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