From March 11 to April 10, the Arkansas Small Business and Technology Development Center consulted with 883 small business clients, a 35% increase from the same period in 2019.
More than a third of the businesses are working with ASBTDC for the first time.
All ASBTDC locations around the state shut down face-to-face activities in March, starting with the Monticello office on March 11. However, as coronavirus began disrupting small businesses, demand for our services surged.
Consulting Goes Virtual
While not seeing clients in-person, we continue to offer confidential, no-cost consulting to help businesses cope with the disruptions brought on by COVID-19.
Though most want resources and advice to help manage the coronavirus crisis, some are seeking ASBTDC’s traditional range of services for a startup or existing business.
Typically, Patricia Long would have about 30 active clients. That number has doubled to 62.
Long is a business consultant for ASBTDC’s Lead Center based at the University of Arkansas at Little Rock.
More than half her consulting projects over the last five weeks have been COVID-19-related, but Long said several clients “already in the pipeline” before the pandemic are still working with her on their plans to start or purchase a business.
Businesses Turn to Center for Help with EIDL and PPP
We have helped business owners apply for the Small Business Administration’s Economic Injury Disaster Loans (EIDL) and Paycheck Protection Program (PPP). Our consultants are also advising businesses about ways to conserve cash, take care of employees, and continue to serve customers.
ASBTDC has assisted 223 clients with 316 applications for PPP or EIDL funding since March 20, when Arkansas businesses became eligible for the low-interest disaster loans.
SBA stopped taking EIDL applications April 15. The first day to apply for PPP was April 3. Lenders exhausted PPP funds on April 16. (A second round of funding was just approved.)
Ronda Hawkins of the Arkansas Tech University ASBTDC has assisted 34 businesses with applying for funding through PPP, EIDL, or both.
By April 15, Hawkins had consulted with 84 clients about issues related to COVID-19. Almost two-thirds are new clients working with her for the first time, she said.
Webinars Supplement Consulting
In addition to one-on-one consulting, ASBTDC is engaging small businesses through online learning. Just over 1,300 people participated in 20 live webinars offered by the center between March 11 and April 10.