New opportunities for federal, community aid
By Michael Somerby EBS STAFF
BIG
SKY – As COVID-19 continues its blistering tear across the nation, we are left
with a stark new normal, one in which the Centers for Disease Control and
Prevention predicts will afflict more before it slows; where concerned citizens
flock to grocery stores for sanitation products, water and canned goods; and
where the economy and its many markets have been rocked with historic
volatility.
Specifically,
those economic impacts are not limited to blue-chip stockholders and other
publicly traded companies—in fact, it’s more likely than not the lion’s share
of those businesses will weather the storm through measures of layoffs,
bailouts and consolidations.
It’s
the small businesses of the U.S., however, that may be left floundering as the
tides of consumer spending recede further, and in an economy like Big Sky, all
but entirely dependent on the viability and vitality of its local ski hill, the
pressures for small business owners in this town have been dramatically
enhanced.
But
all is not without hope, thanks to the Federal Government’s Small Business Administration
Economic Injury Disaster Loan (EIDL) Program, which can provide up to
$2 million in loan-based assistance to small businesses experiencing temporary
losses as a result of prolonged disaster.
There
are caveats to elicit EIDL assistance, such as a proven inability to meet
obligations and pay ordinary and necessary operating expenses as a result of
substantial economic injury; a proven ability to have met such expenses under
typical, disaster-free conditions; and a proven inability to receive credit
from any other sources, among others.
That’s
the federal government’s role. As a citizen, and one in a community as
close-knit as Big Sky where local business owners double as family and friends,
what can one do? It can feel chilling to see those we care about, and their
livelihoods, blindsided.
A
simple way to lend a hand, aside from a personal loan or concerted fundraising
effort, is to buy a gift card. The owners will get money up front for purchases
you might make when things become smoother and less uncertain. If it’s an
establishment at which you regularly make purchases, this is a no brainer.
Another
method is something we should all practice, regardless of a pandemic: shop
local. Stock up on what you might need in bulk, without being inconsiderate of
others, or buy items in bulk to then redistribute as gifts.
Scared
of crowds? Order out and take it home. Nobody loses.
The
coming days, weeks and months will be nothing short of unprecedented. They will
require a degree of tremendous foresight and creativity in all decisions.
But
in Big Sky, where community runs deep, a virus stands little chance to disrupt a
hard-fought sense of togetherness, won through winter months on the slopes,
summer evenings at the softball fields, and 365 days of sharing this incredible
place we’ve chosen to call home.
To begin the road toward claiming an EIDL, visit https://sbdc.mt.gov/Portals/131/shared/SBDC/docs/StartUpGuides/Economic-Injury-Worksheet.pdf?ver=2020-03-12-100221-747 (https://bit.ly/2UmudM7) and submit the finished document to mtdes@mt.gov.