Wall Street Journal: Who's Paying May Rent
MEDIA COVERAGE | ARTICLE |
The Wall Street Journal asked us to create a special Pulse Poll on how small businesses were able to handle paying April rent, given the challenges of quarantines and the Coronavirus. Please read this very well-researched story.
(Published by The Wall Street Journal on April 3, 2020)
By Will Parker
About half of U.S. small businesses haven’t paid their full rent or mortgage yet this month as a result of the coronavirus pandemic, a new survey suggests.
In the poll, conducted on Thursday and Friday by Alignable, a small business social networking company, about 30% of the more than 1,000 respondents reported making no rent or mortgage payment in April, while 20% said they had made only a partial payment.
The remaining half reported paying their entire rent on time. Only a quarter of respondents said their landlord or bank offered a reduction or deferral on what they owed. The survey was of companies with up to 50 employees, including retail, restaurant, auto-repair and other small businesses.
To see the rest of the article, go to the wsj.com site.
Please share your comments on the article below, as this is a very important issue we should tackle together.
Comments (31-40)
As a sole proprietorship of vacation rentals that have been hard hit with cancellations, I was turned down for applying because I didn't pay myself a wage. The business is less than a year old and while revenue has covered expenses there is nothing left over for a wage because I must keep a small reserve. The fixed costs are overwhelming me. I thought this was going to help entrepreneurs but it looks like only the big guys are getting it again. Us little guys just take it in the knees.
Rent paid. She has bills too. I delayed receipt of shipments since I have no customers.
we are closed for the time being , when it is over we will come back strong and have good shows.
tt
In the Spring, we do soccer programs outdoors and at schools. If no programs are running (like now!), rent is not a factor. I'm very grateful. Our indoor programs (with rent) ended JUST as the shutdown emerged.
My business requires direct contact with the public and because of the distancing that created about a 90% reduction of service calls.My landlord did not offer a reduction in rent but just the opposite, I was ask to move if I could not pay in full. The stimulus I applied for when it was first offered on Jasper RV Service's one company I operate has not even been processed yet., So I am not wasting the time on the Deep East Texas Tea Party the other business I operate. Why? Because it will way to late getting to me to help or change anything.The only purpose it would serve is taking money from the government that in the long run would hurt my country in it's own recovery. SO THAT'S THE STORY IN A NUTSHELL.
I Held off April’s rent since we are only running dire water leak emergencies. My landlord is considering a rent deferral, but double the rent in future months is gonna be tough without some forgiveness or loan from the Cares act. We’ll see if the president’s word are true that the Fed is gonna truly help small business’s and mid America.
The lease is in my name. I have 2 other woman who share my space with me so we can afford the lovely office. All three of us have been severely impacted as we provide one on one services to clients: psychotherapy, hypnosis and energy therapy a hands on modality.
I contacted the building owner in late March about a possible reduction for April. I was told no. I moved some personal finances and took money out of savings to pay rent for April but told landlord I would have difficulty paying May's rent. I was told to apply for a loan. A week later, i was informed some of the April rent could be deffered but I had already sent check. I have been with this landlord for over 15 yrs and 5 in this present space and never been late on my payments. My new lease kicked in April 1st and now I will be stuck as the lease had business and personal obligations. I am over 65 and need to work 5 more years before I can retire.
I asked my landlord if I could pay 50% rent until this situation ends, but he said no. I paid April in full but have had no income since early March when I closed. I haven’t applied for loans because I’m assuming my business is too small.
Stevens Health & Nutrition Center Inc is in need for funding at this time we provide health education to the low income families ar no cost to them so due to a lack of fundings we are not able to educate the low inco1 community. So at this time we would appreciate any amount of funds in order to continue these free classes.
we thank you in advance for any amount
De. Vera Stevens Community Event Director
Being an online auction business, Our business doesn't require large groups of people to be in our shop at one time, but we decided to close and wait for a while to see what happens... We are currently closed until further notice.. We can only hope this passes and we can open our doors rather than go out of business... April rent was paid in full and on time and we plan on paying May's rent, but after that we honestly don't know what will happen ... God Bless everyone and Please keep yourselves safe at any cost... We will get through this together!