{"id":6060,"date":"2021-09-26T10:00:00","date_gmt":"2021-09-26T15:00:00","guid":{"rendered":"https:\/\/hoorfarlaw.com\/blog\/?p=6060"},"modified":"2021-09-20T10:44:46","modified_gmt":"2021-09-20T15:44:46","slug":"report-44-percent-of-u-s-small-businesses-have-less-than-3-months-worth-of-cash","status":"publish","type":"post","link":"https:\/\/hoorfarlaw.com\/blog\/?p=6060","title":{"rendered":"Report: 44 Percent of U.S. Small Businesses Have Less than 3 Months’ Worth of Cash"},"content":{"rendered":"\n
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More than 18 months into the pandemic, bakery owner Letha Pugh is so low on cash that she’s afraid to spend it on anything other than paying her employees. She’s hardly alone: 44% of U.S. small businesses have less than three months of cash reserves, leaving them vulnerable to another shutdown due to COVID-19 or other financial emergencies, according to a Goldman Sachs survey of more than 1,100 small businesses. An even greater share \u2014 51% \u2014 of Black-owned small businesses have less than three months’ cash on hand, according to the same survey. While federal loan programs were crucial in keeping many small businesses afloat until COVID-19 restrictions were eased, some owners are concerned by the level of debt they’ve taken on. According to Goldman, 41% of small business owners and 55% of Black-owned businesses say the new debt could undermine their financial stability. Only 31% of small businesses say they could access funding if they needed additional capital. Even fewer Black-owned businesses \u2014 just 20% \u2014 report confidence in their ability to raise money.<\/p>\n\n\n\n

If you are in debt and would like to speak to an attorney, call our law office at 816-524-4949 or visit our website<\/a>. <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

More than 18 months into the pandemic, bakery owner Letha Pugh is so low on cash that she’s afraid to spend it on anything other than paying her employees. She’s hardly alone: 44% of U.S. small businesses have less than … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1133,1],"tags":[1152],"class_list":["post-6060","post","type-post","status-publish","format-standard","hentry","category-business","category-debt","category-general","tag-covid-19"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6060"}],"version-history":[{"count":1,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6060\/revisions"}],"predecessor-version":[{"id":6062,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6060\/revisions\/6062"}],"wp:attachment":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}