Business Notebook: Small-business owners could face bad financial situation if no more aid comes through

The financial outlook for many small-business owners in Missouri will be "brutal" if additional financial aid isn't approved in the coming months to help them recover from the impact of the COVID-19 pandemic on the state's economy.

That assessment from the National Federation of Independent Businesses (NFIB) was based on results of the organization's latest survey related to coronavirus and its impact on the small-business community.

Survey results, released last week, found the majority of Paycheck Protection Program (PPP) borrowers have used all their loans and are preparing to apply for loan forgiveness.

"The latest survey makes it abundantly clear," said Brad Jones, NFIB's Missouri director. "Missouri small businesses are still not out of the clear when it comes to impacts from this pandemic."

Jones went on to say "the numbers are brutal — about half of our small business owners need more financial assistance in the next six months."

Without additional funding, Jones said, "we are in danger of hurting our economy even more."

Among the key findings of the NFIB survey:

• 86% of PPP borrowers have spent their entire loan and are ready to apply for loan forgiveness. More than a third (37%) of PPP borrowers are using the eight-week covered period, 42% are using the extended 24 weeks and 21% aren't sure what they're using.
• More than half of PPP borrowers have or plan to use the simplified "EZ forgiveness" application form when applying for forgiveness.
• After using their PPP loans, 22% of borrowers anticipate having to lay off employees in the next six months.
• About half (49%) of borrowers anticipate a need for more financial support over the next 12 months.
• If eligible, 44% of small-business owners say they would apply, or reapply, for a second PPP loan.
• About a third of small-business owners have applied for an economic injury disaster loan and the vast majority of those who applied, about 80%, had their loan approved.
• Revenue levels are still 50% less than they were before the pandemic for about one-in-five (21%) small businesses.
• Most small-business owners don't expect business conditions to improve to "normal" levels until next year, at the earliest. Only 10% expect conditions to improve to normal levels by the end of the year, 60% say it will take until sometime in 2021 and 20% anticipate it will be sometime in 2022.
• Only 4% of small-business employers have or plan to defer their employees' Social Security withholding tax.

Clippard, Childress have new roles at Missourian

Logan Clippard has been promoted by Southeast Missourian advertising director Gera LeGrand and publisher Jon K. Rust to be the newspaper's advertising manager.

Logan Clippard

Since joining the Missourian as a multi-media account executive in 2017, Clippard has been one of the company's top sales associates and has been a leader on several projects, including the Mind+Body MOVEMENT event in June 2020.

She is a graduate of Southeast Missouri State University, where she majored in communications and minored in fashion merchandising. At Southeast, she was a member of the cheerleading team, the Alpha Delta Pi sorority and the SEMO Fashion Merchandising Club. She has also volunteered several years with the American Red Cross and Salvation Army.

Before joining the Missourian, Clippard worked with the Coca-Cola Co. in Jackson and was an intern at Northwestern Mutual in Cape Girardeau.

Maria Swan Childress

Meanwhile, Maria Swan Childress has joined the Missourian this week and will have responsibilities in the areas of news and special projects. She will also serve as the Missourian's brand marketing manager.

Childress brings a range of diverse experience to the Missourian, including 17 years with JCS Wireless. She has also been the public relations coordinator at Saint Francis Medical Center and a marketing director for Palmerston & Reed Publishing Co. in St. Louis.

A journalism graduate with an emphasis in broadcast news from the University of Missouri-Columbia, Childress has also worked for Fleishman Hillard in St. Louis and Swan-Kohler & Associates Public Relations in Cedar Rapids, Iowa.

She is a past president of the Zonta Club of Cape Girardeau and has also served in various volunteer capacities with the American Cancer Society, Girl Scouts of the Missouri Heartland, American Heritage Girls at St. Vincent de Paul Parish School, United Way of Southeast Missouri and the Cape Girardeau Area Chamber of Commerce. She is also a past vice president of the Tri-State marketing and advertising club and a graduate of Leadership Cape.

Old Town Cape's 2020 Christmas ornament features Ivers Square in downtown Cape Girardeau.Submitted

Old Town Cape unveils Christmas ornament

Christmas is still more than two months away, but it has already arrived in downtown Cape Girardeau where Old Town Cape's 2020 Christmas ornament is now available.

This is the 24th year a Christmas ornament has been produced featuring various historic locations in downtown Cape Girardeau.

This year's ornament, of which only 226 have been produced, depicts Ivers Square adjacent to the Common Pleas Courthouse, now being renovated to become Cape Girardeau's new City Hall.

"Ivers Square was chosen for 2020 because we wanted to highlight the landscape of the square and architectural profile of the Common Pleas Courthouse before the changes were made for the new city hall," said Sarah LaVenture, Old Town Cape's assistant director.

"Ivers Square has been, and will continue to be, a place of civic and cultural gatherings for the Cape community," LaVenture said. "This year's ornament celebrates that."

The ornaments are $30 including a stand, or $25 without a stand. They are available, along with ornaments from prior years, at Old Town Cape, 338 Broadway, Suite 401, and Visit Cape, 220 N. Fountain St., as well as at the following downtown businesses:

• C.P. McGinty Jewelers, 117 N. Main St.
• Hutson's Big Sandy Superstore, 43 S. Main St.
• Jayson Jewelers, 115 Themis St.
• Pastimes Antiques, 45 N. Main St.
• Shivelbine Music Store, 535 Broadway
• Zickfield's Jewelry & Gifts, 29 N. Main St.

Funds available for child care providers

Up to $10 million in Coronavirus Aid, Relief and Economic Security (CARES) Act funding is being made available to child care providers in Missouri to reimburse them for expenses related to the COVID-19 pandemic.

The funding announcement was made last week by Gov. Mike Parson's office through the Missouri Department of Health and Senior Services (DHSS).

According to DHSS, the emergency relief grants will be allocated to licensed, license-exempt, and subsidy (six or fewer) child care providers that have been impacted by the pandemic.

Providers, DHSS said, can seek reimbursement for costs associated with necessary COVID-19 expenditures, such as personal protective equipment, additional staffing, overtime and hazard pay, or for loss of revenue associated with business interruption. The CARES Act funds are intended to help cover losses during the period of March 1 through Dec. 30, 2020.

Funding requests must be approved by the DHSS Division of Regulation and Licensure. Qualified providers will receive instructions from DHSS on how to apply for funds and requests must be submitted by Nov. 15.

For information about the reimbursement process, child care providers may search "child care and COVID-19" on the DHSS website, www.health.mo.gov.

MoDOT competition to be held 'virtually'

Seth Bollinger of the Missouri Department of Transportation stops the water to a bucket that caused the failure of a model bridge during the 2012 MoDOT bridge building competition at Cape West 14 Cine in Cape Girardeau.Southeast Missourian file

SIKESTON, Mo. -- The Missouri Department of Transportation's Southeast District is making alternate plans for it's 17th annual bridge building competition.

"This year's competition will look a bit different than past competitions, but the goal remains the same," MoDOT senior highway designer Anita Clark said. "As always, our hope in holding the competition is that students will gain an appreciation of STEM (science, technology, engineering, and mathematics) careers, specifically engineering."

She said the competition, which will be "virtual" this year due to the COVID-19 pandemic, challenges high school juniors and seniors in MoDOT's Southeast District to design and construct the most efficient model bridge using limited materials.

Bridge kits were delivered to participating high schools last month. Each kit contains balsa wood, string and glue that may be used in the construction of each bridge.

Bridges will be put to the test during a virtual competition scheduled for Dec. 10. MoDOT plans to release additional details about the competition prior to the event.

Prizes donated by area businesses and organizations will be awarded to the top bridge builders. In addition, MoDOT has partnered with Southeast Missouri State University, Arkansas State University, Missouri University of Science and Technology, the University of Missouri-Columbia and Southern Illinois University to offer seniors interested in civil engineering up to $10,000 in scholarships.

More information, as well as photos and videos from prior competitions, may be found online at www.modot.org/bridge-competition.

Charter Spectrum relocates Cape store

The Charter Communications Spectrum store in Cape Girardeau has moved from South Silver Springs Road to a new location at 127 Siemers Drive.

The new store is larger than the former location, which helps customers and employees maintain social-distancing guidelines. The store offers the latest devices and accessories compatible with Spectrum Mobile technology, including access to 5G service where available.

The new store is open from 10 a.m. until 8 p.m. Mondays through Saturdays and from noon until 5 p.m. Sundays.

Plaza Tire opens Kirkwood outlet

Cape Girardeau-based Plaza Tire Service recently opened a new location in Kirkwood, Missouri, the 15th company location in the greater St. Louis area.

The 6,400-square-foot facility at 915 S. Kirkwood Road features eight service bays and stocks approximately 2,000 tires. Inventory is continuously replenished through the company's warehouse and distribution center in Cape Girardeau.

In addition to tires, the store also offers several services, including wheel balancing, alignments, brakes, shock and strut replacements, oil changes and battery replacements.

Founded in 1963 by Vernon "Pee Wee" Rhodes, the company is owned today by his sons, Mark and Scott Rhodes, and is ranked 19th on the 2020 Modern Tire Dealer list of top 100 independent tire dealers in the nation.

Awards and Recognitions

Shad Burner

Shad Burner of Cape Girardeau was among 31 graduates last month of the Delta Regional Authority's Delta Leadership Institute.

A "virtual" graduation ceremony was held Sept. 23, marking the 15th year the institute has trained regional leaders to help improve the economic competitiveness and social viability of the Mississippi River Delta and Alabama Black Belt region.

Burner, who is project manager with the Missouri Department of Economic Development, and the others in the program completed the yearlong program that brings together public, private and not-for-profit sector leaders from throughout the DRA's eight-state region.

Graduates participated in six training sessions over the past year to educate them on local and regional economic and community development best practices used throughout the region that can be implemented in their own communities and regions.

Chamber Notes

The Jackson Area Chamber of Commerce's October Business After Hours gathering is scheduled for 5 p.m. today at United Land Title, 1210 Greenway Drive in Jackson. Masks will be required and social distancing will be observed.

n

The Jackson chamber's monthly business breakfast is scheduled for 7:30 a.m. Friday at the Jackson Civic Center. Seating will be limited due to social-distancing guidelines and reservations are required through the chamber's website, www.jacksonmochamber.org.

The chamber asks that no more than two people from each member organization attend the breakfast. Masks are required inside the Civic Center.

The program will be livestreamed on the chamber's Facebook page.

n

The Cape Girardeau Area Chamber of Commerce will host a ribbon-cutting at 1 p.m. Friday to commemorate the renaming of the Terry W. Kitchen Junior High School at 1910 Whitener St.

Do you crave business news? Check out B Magazine, and the B Magazine email newsletter. Check it out at www.semissourian.com/newsletters to find out more.