Small-business owner throws in the towel, lives to fight another day
Last March, I enlisted to fight coronavirus. I ranked nonessential as a small-business owner of a clothing consignment shop, a business that is all about “upcycling” — creative reuse of things. I immediately mobilized to close the store door. Until further notice, the lack of business income required a hunk of my savings to pay bills and taxes.
The end of May, in compliance with New York Forward, I reopened the store door and enforced regulations designed to combat coronavirus. Mandated masks. Respected social distancing. Cleaning. Cleaning. Cleaning.
Business sales were slow through June. Rent went unpaid. Bills kept coming.
The writing was on the wall. Debt.
With an ear to the ground, I heard about a small-business loan that offered 75 percent forgiveness. I contacted state officials for details. One detail gave me pause.
It wasn’t the fact that because I have no employees, forgiveness would not come my