Wed. Jun 3rd, 2020

Curry County encounters/anticipates loss of $80,000

CURRY COUNTY (KSMX)- In the wake of the novel coronavirus pandemic, it’s no surprise that businesses are suffering from losses all over the country. The numbers for Curry County can attest to that fact as well.

Curry County Commissioners will hold a telephonic meeting this Friday, March 27, where among the action items, officials will be discussing the issue of declaring Curry County an emergency area as a result of COVID-19

According to Curry County officials, as of Friday, March 20, Curry County has already either encountered or anticipates expending/experiencing a loss of income due to the COVID-19 virus for a total of $79,536

The Curry County Events Center anticipated loss of $64,900 due to events canceled that have been canceled through May 2020. County Departments will anticipate a loss of $14,636.

Governor Michelle Lujan Grisham announced its qualification for the Small Business Administration (SBA) Disaster Loan Assistance program to assist businesses negatively impacted by the COVID-19 public health emergency.

According to a press release:

The SBA is offering low-interest federal disaster loans up to $2M for working capital to small businesses and non-profit organizations suffering substantial economic injury as a result of COVID-19.

“We are dedicated to assisting every business that we can to endure the significant hardship this emergency has already caused,” Lujan Grisham said. “This SBA loan program is one of several tools to help businesses remain resilient and continue servicing their communities into the future.”

These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.