This Percentage of Small-Business Owners Think They'll Never Recover (Infographic) The number is concerningly high.

By Jessica Thomas Edited by Jessica Thomas

Mikael Vaisanen | Getty Images

As the global health crisis continues its spread across the U.S., millions are newly unemployed, businesses are shuttering for the foreseeable future and uncertainty is high. Hit particularly hard by this crisis are small-business owners, many of whom are far short of the cash they'd need to weather the storm.

Although loans from the federal government are available to help small-business owners stay afloat, a survey from online loan platform Lending Tree found that people aren't confident these measures will help them in the long term. In a survey of 1,200 business owners, nearly half have shut down temporarily, and 71 percent are worried their businesses will never recoup the losses from this crisis.

Related: 8 Ways Business Owners Can Take Advantage of the Federal Stimulus Package

Nearly half (47 percent) of business owners have taken on new debt to keep things moving, and another 34 percent have applied but not been approved for loans.The infographic below offers more information from the survey.

If you're one of the eight in 10 business owners who has "no idea" where to get emergency funding, Entrepreneur's stimulus coverage is here to help.

Related: How to Submit Your SBA PPP Loan Application and Calculate the Loan Amount

Related: 3 Financial Steps Small-Business Owners Should Take Right Now

Jessica Thomas

Entrepreneur Staff

Senior Digital Content Director

Jessica Thomas is the senior digital content director at Entrepreneur. Prior to this role, she spent nearly five years on staff at Worth magazine and was a staff writer for Bustle. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Innovation

4 Ways Market Leaders Use Innovation to Foster Business Growth

Forward-thinkers constantly strive to diversify and streamline their products and services, turning novelties into commodities desired by many.

Business News

Your Old Apple AirPods Can Soon Act as an Over-the-Counter Hearing Aid, According to the FDA

The new software is compatible with the Apple AirPods Pro and accessible through iOS — for free and now FDA-authorized.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

'Masculine Energy Is Good': Mark Zuckerberg Tells Joe Rogan He Thinks Companies Need More Aggression

On the most recent episode of "The Joe Rogan Experience," Meta CEO Mark Zuckerberg said corporate culture has become "neutered."

Growing a Business

5 Risk-Taking Lessons From Founders Who Bet Big and Won

Discover the bold moves and strategic risks that catapulted these entrepreneurs to success. Learn how their fearless decisions can inspire your own path to growth.