Small Business Emergency Disaster Loan Program
Small Business Administration tomorrow, Wednesday, March 25 at 9:00 am, the call-in: 202-765-1264 ID: 854333226#. This call provides an opportunity to ask questions regarding the SBA’s Small Business Emergency Disaster Loan Program available to businesses with less than 500 employees.
Nevada Treasurer Zach Conine said the federal level has now protected some 85 percent of homeowners from the threat of foreclosure or eviction during the virus pandemic.
The federal Department of Housing and Urban Development has joined the Federal Housing Finance Agency in declaring along with Fannie Mae and Freddie Mac, will suspend all foreclosure actions and evictions for the next 60 days. Landlords could use this to give their tenants flexibility to delay rent
Source: the National Restaurant Association
The longest economic expansion on record will continue in 2020, albeit at a somewhat slower pace, according to Association projections.
The longest U.S. economic expansion in history is expected to continue in 2020, though at a somewhat slower pace. The economy is projected to add an average of 140,000 jobs each month during 2020, down from an average monthly gain of 175,000 jobs in 2019. Still, that will be sufficient to keep the national unemployment rate south of 4 percent and near a five decade low.
Consumers will continue to be the driving force behind the economy. Consumer confidence remains elevated, and the healthy labor market will continue to support additional spending. Household balance sheets are also strong, with wealth at a record high and debt burdens at multi-decade lows.
Restaurant operators are on the front lines of the economy, and most are anticipating a more-of-the-same business environment in 2020. When surveyed in January 2020, six in 10 operators said they expect business conditions in six months to be about same as they were in January. Twenty-two percent thought business conditions would improve, while 16 percent expected conditions to worsen.
External risks and geopolitical uncertainties remain, headlined by the trade war with China. Though the signing of the Phase One trade deal eased tensions somewhat, any re-escalation risks hurting U.S. consumers and the economy as a whole.
2020 forecasts of key economic indicators:
Three high-profile Las Vegas restaurant executives addressed F&B Conference attendees on a range of issues of concern to customers of linen, uniform and facility services companies. (L/R) Stewart Patchefsky, general manager, Mansion & Skylofts at MGM; Dave Simmons, executive chef, Lawry's The Prime Rib; and Cory Cutler, operating partner Fleming's Prime Steakhouse and Wine Bar. Katherine Jacobi, president and CEO of the Nevada Restaurant Association, served as moderator.