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East Valley businesses feeling effects of coronavirus, survey shows

Posted at 12:15 PM, Apr 08, 2020
and last updated 2020-04-08 15:15:46-04

It’s no secret that businesses are feeling the impact of the coronavirus crisis.

The East Valley Chamber of Commerce has conducted two surveys of its more than 5,000 members to determine just how far-reaching the pandemic has been for local businesses.

On Wednesday, results from the second survey showed the following:
-56% of businesses are applying for the SBA’s Economic Injury Disaster Loan
-47% are preparing to apply for the Paycheck Protection Program loans
-31% say they will be requesting rent or mortgage relief
-21% say there was no change to its business model
-21% say their business remains open with a skeleton staff, but employees have been furloughed or laid off
-16% say their business has transitioned to fully remote
-16% combined closing their business location, furlough or laid off all or some of their employees
-13% will be looking at utility or accounts payable relief

The EVCC says 70 percent of those who responded to the survey represent businesses with fewer than 20 employees.