From the (Home) Business Desk ... Most Americans want another check

Do you think we need another round of COVID-19 stimulus checks? If you do, you’re not alone.

According to results of a national survey released last week, 84% of Americans want another wave of government checks similar to those that were part of the $2.2 trillion CARES (Coronavirus Aid, Relief, and Economic Security) Act approved by Congress and signed last month by President Donald Trump.

Money allocated in the act was intended to help Americans — many of whom have lost their jobs or have been temporarily laid off because of the COVID-19 pandemic — maintain financial stability until life gets back to normal … whatever that will be in the future.

I’m surprised the number isn’t higher than 84%. I suppose there are people out there besides Bill Gates, Warren Buffett and Mark Zuckerberg who don’t need $1,200, give or take. (Of course they, along with millions of others, don’t qualify for stimulus payments in the first place.)

The survey, conducted earlier this month by WalletHub, asked a wide range of questions pertaining to stimulus payments — who should get them, how smoothly people think the stimulus program has gone and how people are spending (or plan to spend) their stimulus checks.

Survey results were based on the responses of more than 350 demographically representative Americans and extrapolated for approximate population totals.

Among the survey’s findings:

• 160 million Americans are less than three months away from running out of money.
• 53% of survey respondents believe businesses need coronavirus relief more than consumers (half say it should go to small businesses, 47% say relief money should go to consumers, while only 3% say it should go to big corporations).
• A third of all Americans will donate part of their stimulus money to coronavirus relief efforts.
• Nearly 24 million Americans will buy drugs, alcohol or tobacco products with their stimulus money.

I suppose it can be said some of the stimulus money will be going up in smoke.

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Speaking of government assistance, area financial institutions tell me they’re “locked and loaded” with more Paycheck Protection Program (PPP) applications.

A second round of the Small Business Administration’s short-term loan program was approved by Congress last week and will provide up to $320 billion to businesses, contractors and self-employed individuals. Loans provided through the program are forgivable as long as they are used for employee payrolls and other qualified business expenses.

Nearly $350 billion worth of PPP loans were distributed earlier this month during the program’s initial rollout before the program ran out of money.

The SBA will begin accepting online applications from banks and other financial institutions for the second round of PPP and Economic Injury Disaster loans at 9:30 a.m. today.

More information about PPP and Economic Injury Disaster loans can be found on the SBA’s website, www.sba.gov.

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A new website has been launched by several economic development agencies as part of a new “Reclaim Our Region” campaign.

The website, www.ReclaimOurRegion.com, includes practical tips for businesses and community members to consider as the region gradually recovers from the COVID-19 pandemic.

The “Reclaim Our Region” campaign is a joint project of the chambers of commerce in Cape Girardeau, Jackson and Scott City, as well as Cape Area Magnet and Visit Cape (the Cape Girardeau Convention and Visitors Bureau).

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