Local business receiving major assistance from local & federal levels

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BRYAN, Tex. (KBTX) - Our local economy is suffering from the effects of COVID-19.

That's how First News at Four's bi-weekly conversation with the Bryan-College Station Chamber of Commerce began.

According to a survey of 200 local businesses, nearly half of the respondents say they've already lost $100,000 to $500,000.

Another quarter of those surveyed say they've lost in the neighborhood of $25,000 to $100,000.

The last group was about one-fifth of those surveyed and they say their business has lost $5,000 to $25,000.

But, President and CEO Glen Brewer says there are reasons to be hopeful.

Brewer was very encouraged by the prospect of checks directly to residents from the federal government.

"When these checks come in, I think most people are gonna use these to go out and buy food, rent, and spend on their family," Brewer explains, "nothing but good can come out of these checks."

But Brewer says he's most excited about The Brazos Valley COVID-19 Community Relief Fund.

"If you want to make a difference locally," Brewer says, "look at this fund, and make a donation."

He says by last Friday, the relief effort had already received 100 applications for funding.

Those funds will be distributed as early as Wednesday.

The fund is taking applications again until Friday and those funds will be awarded by next Wednesday.

Watch the full interview in the player above.