Is the Coronavirus Disease (COVID-19) affecting your business?
Updated: May 14, 2020
Our Team is sure the past few days have been hectic and stressful.
Our Team has been talking to a lot of small businesses like yours and the recent news about COVID-19 and Stock Market volatility is on everyone’s mind.
At Beitler & Available Warehouses, we’re concerned about your team’s health and your company’s well-being in the weeks ahead.
That’s why we wanted to share some resources and information that our team and other customers have found very helpful:
A lot of companies may experience cash flow and liquidity issues. The Small Business Administration (SBA) is expanding its Disaster Assistance Loans program to provide up to $2 million in low-interest loans. Here’s the press release and here’s where you can check if your company qualifies and apply.
The yield on the U.S. 10-year Treasury note fell to 0.709% at the close of trading last Friday 3/06/20, the lowest yield ever on the 10-year note and the 9th consecutive trading day that has ended in a record-low yield close. Until this incredible “flight to safety” by investors began on 2/25/20, the record low yield for the 10-year Treasury note was 1.36%, set on 7/08/16. But as fears connected to the spread of the coronavirus have escalated, equity investors have become bond buyers, sending debt prices soaring and yields tumbling (source: Treasury Department).
The Federal Reserve is concerned about the coronavirus’s impact on consumer spending by Americans, notably our travel and entertainment plans in the coming months. Of equal concern is the impact of the global health threat on the U.S. tourism business as foreign travelers contemplate staying home for the summer (source: Federal Reserve).
Here’s a thorough guide for small businesses on navigating Coronavirus:
Businesses like yours rely on being armed with knowledge and resources. In good times and in challenging times like these, we’re with you. We wish you, your loved ones, and your team good health and good luck in the months ahead. Please do not hesitate to reach out if you need anything. Simply reply to this email and our team will be happy to help however we can.