Border Businesses Are Eligible for SBA Help
Experts are predicting holiday sales will be down this year compared to last year.
Industry analysts from Ernst & Young released a forecast stating that holiday sales will increase by only 1 percent this year. Factoring in inflation, that’s actually a 2 percent decrease, said Aubie Goldenberg, a retail expert with Ernst & Young.
That’s the first decline the nation has seen since 1990, Goldenberg said.
Last year, holiday sales increased by 4 percent, she said.
In addition, department stores and specialty stores will take another hit due to the strong gains made by “big box” discounters such as Wal-Mart, she said.
There are some bright spots in the picture, as the Sept. 11 attacks will actually help spur sales in certain areas.
“American consumers’ desire for security and calm will be reflected in purchases of household merchandise. The trend will be toward useful purchases and away from frivolous spending,” Goldenberg said.
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Aid For Small Biz:
San Diego’s border-area businesses, many of which have been affected by the border being shut in the wake of the terrorist attacks, are now eligible for aid.
The Small Business Administration’s Economic Injury Disaster Loan program was announced in the aftermath of Sept. 11. The loans are available to businesses suffering “substantial economic injury” from these attacks or federal actions taken as a result of the attacks, said local SBA spokeswoman Suzanne Ghorpade.
The program will provide firms with the capital needed to pay ordinary and necessary operating expenses they would have been able to pay had the disaster not occurred. Local businesses dependent on cross-border traffic may be eligible if they can show they lost business when the federal government closed the border, Ghorpade said.
Loans can be up to $1.5 million, with an interest rate of 4 percent and terms of up to 30 years. The loan application deadline is Jan. 21, she said.
To apply, contact the Sacramento SBA office at (800) 488-5323.
Speaking Of Border Shopping:
A major shopping complex at the border opened its doors Nov. 16 , just in time for the holidays.
Las Americas, at Camino de La Plaza on the international border, features retailers such as Banana Republic, Old Navy, Wet Seal and Liz Claiborne. It will rely heavily on shoppers from both sides of the border, said Heidi Smith, a spokeswoman for Las Americas.
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South Bay Mall Gets Festive, Pt. I:
After nearly six months of primping and remodeling, Westfield Shoppingtown Plaza Bonita unveiled the results of its top-to-bottom “makeover” Nov. 16.
The $10 million upgrade features new holiday d & #233;cor, as well as facility additions, cosmetic changes and new amenities, in time for the center’s 20th anniversary, said Ronnie Warmuth, customer service and marketing director at the mall.
Amenities include brand-new tile floors throughout the center, increased natural lighting, pedestrian-friendly walkways and San Diego’s first “Westfield Playtown” , a children’s play area, Warmuth said.
“The results of the makeover have been fantastic,” she said. “It’s a new look for the center, one that reflects the growing and changing community of South County.”
South Bay Mall Gets Festive, Pt. II:
Chula Vista Center’s annual tradition, “Sounds & Sights of the Holiday Season” returns to the mall this year. The program features musical entertainment each Saturday, from 1 to 3 p.m., from now until Christmas at the Carousel Food Court.
Remaining performances this season include Hilltop High School on Dec. 1, Minus One Music on Dec. 8, Bonita Vista High School on Dec. 15 and Latin rock performers Bohemia Atomica on Dec. 22, said Susan Lipp, marketing manager for the Chula Vista Center.
There will also be caroling and other entertainment at other times throughout the season, she said.
The mall will also offer gifts to reward shoppers who spend $300 or more at the mall’s specialty stores. Customers who bring their receipts to the customer service center on weekdays Dec. 28 will receive a different gift every week from mall retailers, she said.
Call (858) 277-6359, Ext. 112, or e-mail Zion at lzion@sdbj.com. The deadline for the Dec. 10 issue is Nov. 30.
