Edina small business receives financial assistance to retain its employees
Small businesses are finally getting relief from the U.S. Government.
EDINA, Minn. (FOX 9) - Small businesses across the state are finally receiving some financial assistance this week. One of them is College Recruiter, a small, Edina-based business owned by a husband and wife.
“This time is very scary and very uncertain,” said Faith Rothberg, a co-owner. “No doubt.”
Rothberg says she is an optimist at heart and is hopeful about the future of her business.
“We were at a point that we were growing and we were really excited about it,” she said. “This kinda, like for many, puts a whole twist on wherever their businesses were going.”
College Recruiter offers a specific job board and services for graduates and others across the country that are entering the workforce. It’s for students searching for first jobs with Fortune 1,000 companies and government agencies.
At any one time, they can have upwards of half a million jobs posted at Collegerecruiter.com.
The Rothbergs have a team of half-a-dozen salaried employees on their payroll to make it all happen.
“They matter,” Rothberg said. “We’re like a small family. That’s, I think, how a lot of small businesses are.”
With the economy battered and their revenues down, the Rothbergs applied for emergency federal relief about a month ago before finally receiving $6,000 this week. It amounts to two-and-a-half months’ worth of payroll for their workers.
By one estimate, College Recruiter falls into a category of just 8 percent of American small businesses that applied for assistance under the initial Cares Act to get their money.
Rothberg isn’t entirely sure why she received funding to help the firm keep its entire staff working through this economic storm.
With Washington, D.C. promising more financial help in the weeks ahead, the Rothbergs are sharing their story with others to give them hope that the system can work. So far, College Recruiter has avoided any layoffs.