We are a small nonprofit and that has offered plenty of points. We have a small funds. Because the PPP mortgage goes via regular lending circles, there’s a bias in favor of extra established, higher-income companies or nonprofits as a result of banks see that as a greater loaning companion. The smaller you might be, the extra they’re like, Oh, are they actually going to pay us again? So you might be in enterprise for 22 years like we now have, however that’s not going to rely for a lot to a banking officer your money movement and your asset base, which isn’t big for us. We’re in enterprise and we pay our payments, however we’re by no means going to look nice on paper. In this second, with so many nonprofits and small companies actually struggling, we’re those who actually need some forgiveness in regards to the smallness.
We utilized within the final spherical and didn’t get it, so we utilized once more after they prolonged the deadline to Aug. 8. But I haven’t heard something. So I referred to as they usually mentioned, We are nonetheless reviewing your supplies. And I feel it’s as a result of on paper, we’re not a straightforward name for them.
The different facet is being a nonprofit. You get to a component within the utility that asks, who’s the proprietor. We don’t have an proprietor. I needed to personally put my social safety in and my identify — which makes me uncomfortable — however I put down that I personal 0%. The formulation they’re utilizing are for companies, not nonprofits. There must be a bit that claims, “If you’re a nonprofit, go to this section,” and there are totally different questions.
I do know another youngsters’s museums have gotten PPP loans, and they’re greater than us. It feels like for those who discover the correct banking companion and are large enough, you’ll get one. But for those who’re a smaller enterprise or a nonprofit, a few of these issues are stacked in opposition to them.
We had 9 full-time worker equivalents (FTEs) unfold amongst 20 workers; some have been part-timers. Now we now have 1.1 FTE individuals nonetheless hanging on. I must rent seven individuals now to fulfill the necessities for the way PPP forgiveness is structured. That is loopy, as a result of that’s not sufficient cash for me to rent them for any size of time. I’d get the cash, spend it on eight workers for a month and a half after which lay them off once more. There are loopy restrictions for what you are able to do with the cash. I want there was slightly extra freedom on how we use that cash. It would put it in our personal fingers to determine how you can hold our companies afloat.
We have 50,000 to 60,000 guests every year, however the area is simply about 4,000 sq. toes. The primary a part of the museum, you possibly can’t socially distance in that area.
With issues stacked in opposition to us, many youngsters’s museums are selecting long-term closure till we are able to get to a vaccine or remedies. Museums that reopened are discovering that they’ve to shut once more with circumstances spiking. Those of us with our eyes open are going together with the plan to comprise the virus so we get to some extent the place we are able to reopen. But — when reopenings occur when individuals don’t put on masks and also you don’t have good contact tracing and also you don’t have ample testing in place — till we carry up our sport, we’re forward of ourselves in attempting to reopen. We can’t hold our guests or our employees protected now. And we’re about youngsters’s well being and well-being. We have grandparents who carry their youngsters right here, and immunocompromised youngsters and particular wants youngsters. I feel we’re doing the accountable factor by recognizing that being open will not be a viable possibility.
Small companies are the bedrock of this nation, and everybody talks about that, however when it comes all the way down to it, there’s not loads of help for small companies in comparison with subsidies for the oil firms or large financial institution bailouts.
Some companies are by no means going to come back again. Museums all depend on visitation, and it will not be potential to offer that setting with out some severe modifications. Habitot’s not going out of enterprise; we’re nonetheless staying important on social media and on-line, and offering studying supplies to the group. We’re not less than a 12 months away from that being one other dialog.
