Chandler Edition - May 2020

CHANDLER EDITION

VOLUME 1, ISSUE 10  MAY 28JUNE 24, 2020

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10 PITTA SOUVLI

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Chandler businesses utilize federal loans tomitigate COVID19 impacts

Arizona faresbetter insecondroundof funding The Small Business Administration administered the Paycheck Protection Program to help businesses during COVID-19.

BY ALEXA D’ ANGELO

April 3 First Round of PPP Funding *

April 27 Second Round of PPP Funding *

“I’m a single mom of three; I run a little neighborhood mom and pop shop,” Gwinn said. “It’s very scary. I don’t think I have ever relied on my faith more than I have in the past six weeks.” The Paycheck Protection Program is a Small Business Administration loan intended to help businesses keep their workforce employed during the COVID-19 pandemic. The loans are forgivable if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mort- gage interest or utilities, according to the SBA. The rst round of funding, which began April 3—about $349 billion—ran out in two weeks. In Arizona, 19,280 loans were fullled in that round, totaling around $4.8 billion. CONTINUED ON 12

1

2

Kristina Gwinn applied in early April for the rst round of funding from the Paycheck Protection Program to help keep her employees paid during the coronavirus outbreak that limited the service she could oer at Sidelines Grill in Chandler. She applied with her usual bank and heard nothing back. She then applied with a smaller bank and did not hear anything for days. “All you do is make phone calls every day hoping and praying you hear something,” Gwinn said. Gwinn received approval in mid- April for the loan and a loan number, which meant she had made the cut for the rst round of funding just in time, as it was announced funding had run out the next day. She said she cried when she saw the email.

vs.

AZ small businesses received PPP loans

AZ small businesses received PPP loans

19,280 9,280

43,915

in the country in the rst round of funding

in the country in the second round of funding

46 th

16 th

Amount of money dispersed in AZ $4.8b

Amount of money dispersed in AZ $3.7b

Percentage of national dollars Arizona businesses received

Percentage of national dollars Arizona businesses received

1.38%

1.19%

$310B Total national funding

$349B Total national funding

*as of April 16

*as of May 1

SOURCES: SMALL BUSINESS ADMINISTRATION, GREATER PHOENIX ECONOMIC COUNCIL COMMUNITY IMPACT NEWSPAPER

Home improvement industry sees boost during coronavirus

opportunity to schedule home repairs and improve- ments,” said Ryan Rogers, owner of Rogers Family Handyman, which services the Chandler area. In March, Gov. Doug Ducey issued an executive order for Arizonans to “Stay Home, Stay Healthy and Stay Connected.” The stay-at-home order was originally set to expire April 30, but it was extended through May 15 when the governor let it expire. In that time, home improvement specialists, land- scape businesses, Realtors and others saw an increase in the amount of business they were seeing. CONTINUED ON 14

“It’s been nonstop since the virus started; it hasn’t stopped a bit.

BY ALEXA D’ ANGELO

Chandler-based businesses with an emphasis on home improvement and real estate have seen a near-constant stream of work since the coronavirus pandemic forced more people to spend more time than usual cooped up in their homes, business own- ers said. “With everyone at home, it creates the time and

I never slowed down, and I never stopped working.” BRIAN NELSON, Owner of Handyman Brian 2020 HOME IMPROVEMENT GUIDE

CORONAVIRUS COVERAGE

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