As discussions at the state and federal level continues as to when the country can expect to reopen and have some semblance of normalcy, business owners are waiting for the green light to do so.
Within two weeks of Congress approving the $349 billion federal Pay-check Protection Program, funds were distributed to businesses across the county and are now depleted. But that has left thousands more with their doors closed while wondering if more funding will be on the way.
As of press time, Congress is discussing adding billions of dollars to the fund to help those who did not receive assistance the first go around.
Like the rest of the nation, most businesses in Sedona — from the small mom-and-pop stores in Uptown to the largest resorts in the area — are waiting to see when things will get back to normal.
“No one likes being idle and few can afford it,” Sedona Chamber of Commerce President and CEO Jennifer Wesselhoff said. “Businesses want to reopen and continue doing what they do — supporting families, providing jobs and driving a strong economy. That being said, we are all aware of the health and safety issues, and understand we are dealing with a highly contagious, poorly understood and sometimes deadly virus. People are hurting.
“Thousands of Sedona employees have been laid off. Many businesses haven’t seen economic relief from the federal government yet. Businesses are wondering what the future looks like. And people are afraid. It is an exceedingly difficult situation. The government at the state and national levels are exploring how to remediate the economic aspect of the crisis with these critical safety issues in mind, which is the right approach.”
Robert Holeman, general manager of Sedona Reãl Inn and Suites, applied for a two-part Economic Injury Disaster Loan on March 25. He said this included a $10,000 grant and a loan of 30 years at 3.75% directly through the federal Small Business Administration.
On April 13 Holeman received the grant of $10,000 and was notified he was confirmed that the loan had been accepted but as of late last week he was still waiting for the documents to sign.
In addition, on April 7, he applied for the Paycheck Protection Program.
“I was told by my banker that my application has been approved and we were waiting for funding on April 10,” Holeman said. “But yesterday I was informed that I did not make it into this round of funding but I am at the front of the line for the next round of funding. When that will happen is unknown.”
Holeman added that the PPP money is forgivable if 75% is used in payroll, while the remaining can be used for utilities and rent. If one does not meet the 75% requirement for workers, it turns into a 24-month note at 1% interest.
Wesselhoff said over the last several weeks the chamber has cosponsored numerous workshops on emergency resources. In addition, it is sharing information for displaced employees, issuing alerts to its members on Gov. Doug Ducey’s actions regarding executive orders and connecting nonprofits with emergency funding.
The chamber has also developed new websites that promote local businesses that have online sales portals and online services, launched a website listing all restaurants that offer pickup and delivery and built a website that lists the status of local businesses and attractions.
“All of these web-based services are available to businesses, whether they’re a chamber partner or not,” Wesselhoff said. “We are encouraging Sedonans to support their local businesses through online ordering and more. We are in touch with the traveling public, encouraging them to look online for Sedona goods and services and we are finding ways to stay connected with them, so Sedona remains top of mind when travel resumes.”
In regard to when Sedona reopens for business, Wesselhoff said, “Looking ahead, we are determined to ensure that Sedona remains a strong tourism destination, and we are evaluating every program, so that we emerge with plans in place to promote our destination as powerfully and effectively as possible.”
She added that Ducey is seeking recommendations from business and tourism leaders, including in Sedona, about how to best to proceed with a particular focus on the travel and tourism industry.
Sedona Economic Development Director Molly Spangler said, like the chamber, the city has been reaching out to local businesses.
“Over the past four weeks, I’ve spent a lot of time working with our local businesses in one-on-one virtual meetings and through hosting informational webinars on federal assistance,” she said. “I can say that this pandemic has hit our business community hard, but it hasn’t hurt their spirit.”
