Boynton Beach Insider

What would normally be a vibrant time for social gatherings and economic stability has proven to be a challenging period for many local small business owners. Over the past three months small businesses throughout Boynton Beach have felt the financial impacts of the COVID-19 pandemic, which abruptly halted business for various local industries.

Many businesses were not equipped to manage and sustain the loss of revenue that resulted from the sudden coronavirus outbreak and accompanying social distancing restrictions. The uncertainty surrounding the pandemic and exactly how long it will last has left many business owners feeling overwhelmed and hopeless.

Recognizing the vital role that small businesses contribute to a thriving local economy, the Boynton Beach Community Redevelopment Agency (BBCRA) worked quickly and diligently to create a relief program that would provide businesses with much needed funding to assist with core expenditures.

Under the agency’s Small Business Disaster Relief Forgivable Loan Program (SBDRFLP), eligible businesses with 50 or fewer employees could apply for a $10,000 interest free business loan to be used towards payroll, utilities, or inventory expenses within one year of the loan date. The program was streamlined to provide more flexibility to small local businesses which otherwise would be ineligible or whose immediate needs are not addressed through the federal and state funding programs during the mandatory closure.

Over the period of seven weeks, the BBCRA distributed $1 million in relief funding to over 100 small businesses located within the BBCRA area. The forgivable loan essentially served as a life line to keep businesses afloat during the turbulent times.

Stacy Brookman, owner of Fly and Flow Fitness, a local aerial arts yoga studio, attributes the BBCRA with assisting her with the initial opening of her business in 2019, and also with equipping her with the funding she needed to reopen her business during the pandemic.

“The CRA’s generosity and concern for the continued success of its businesses, including mine, is a game-changer,” Brookman stated. “While the loan I received may seem small to most businesses, especially pre-pandemic, the impact it made on my studio is simply enormous.”

Through the SBDRFLP Brookman, who just celebrated the one-year anniversary of her business, was able to secure the funding needed to increase studio inventory, as well as provide aerial silks for students who wished to purchase their own for sanitation purposes.

“The reaction I had from students was immediate and positive,” Brookman remarked. “As soon as we opened our doors for group classes on June 1^st, classes were selling out. Students are grateful we either offer freshly washed aerial swings each class, or they love being inside their own swing.”

The SBDRFLP recipients included a variety of sole proprietors, restaurants, hair/nail salons, real estate offices, engineering firms, medical offices, childcare facility, fitness center, marine related businesses, industrial/service industry, florists, bakeries, and retail. Some of the businesses are fairly new to the area, while others have been staples in the community for decades.

Anchors Away Travel & Tours, which has been a part of the Boynton Beach community for over 20 years, was deeply impacted by the crisis. When the COVID-19 pandemic struck, it brought travel to a global standstill which essentially crippled the industry. Despite the abrupt halt to travel bookings, staff is still needed to assist clients with canceling and rescheduling travel plans.

According to Phil Garfinkle, officer of Anchors Away Travel & Tours, “The BBCRA was pivotal in keeping our business open. What the BBCRA has accomplished in helping small business in our region is a role model for, not only other localities, but for the national programs.”

With the funding received from the SBDRFLP, Anchors Away Travel & Tours was able to continue to pay their staff, who have over 95 years of combined travel knowledge and experience, even though revenue from future bookings had been suspended.

Many business owners were grateful for the opportunity to keep their employees working, while others utilized the assistance as a lifeline to sustain their business.

Businesses within the marine industry, like countless others, have had to restructure the manner in which they operate to adhere to social distancing guidelines and other directives outlined under Governor DeSantis’s Phase 1 reopening plan. Due to the restrictions, many marine businesses that provide recreational activities at the Boynton Harbor Marina were unable to immediately relaunch operations despite receiving the green light.

“Without your grants we would have struggled to raise enough money for utilities and rent during the COVID Pandemic,” shared Thomas and Deborah Muscatello from Boynton Beach Dive Center in a written statement. “And without the preseason sales our ability to raise enough money for inventory to start our summer season would have been a monumental task.”

The BBCRA recognizes that small businesses are a vital asset to the local community and remains unwavering in its commitment to provide businesses with economic development assistance, while maintaining fiscal responsibility as a public agency. For more information about assistance provided by the BBCRA visit their website.