Like many small business owners, Tobi Parks saw her business devastated by the Covid pandemic.
Parks had to shut the doors of her independent arts and music venu,e xBk, in Des Moines, Iowa, in March of 2020. It didn’t reopen until more than a year later.
“It was terrifying,” said the 44-year-old Parks, who had been in business for only six months before the crisis hit.
She took advantage of as many programs as she could — state funding, and Economic Injury Disaster Loan and the Paycheck Protection Program. Yet it wasn’t enough to cover all of her overhead costs, including rent, insurance and utilities.