Businesses in Clermont look forward to a busy Memorial Day weekend

CLERMONT, Fla. — With the debt ceiling deadline looming, some business owners are worried this holiday weekend could be the last weekend they can make money before rough water hits.

What you need to know: The U.S. debt ceiling deadline is fast approaching, causing some local business owners to worry about their financial future. Tommy’s Florida in Clermont anticipates a busy Memorial Day weekend as more and more people head to the lake

According to Tony Carroll, the company’s boat rentals have already sold out and more and more people are considering buying a boat

If a debt ceiling agreement is not reached, experts say small businesses could find it difficult to borrow money

Tony Carroll says his passion for boating began at a young age. And he’s not the only one with his love of the water — this Memorial Day weekend, he says, his Clermont store, Tommy’s Florida, is out of boat rentals and has many more people looking to buy.

“The memorial day is very busy for us,” he said. “We’ve been working hard over the past two weeks preparing boats for new boat buyers as well as people who are releasing their boats for the first time.”

During the pandemic, Carroll said, everyone wants to be on the water. Since then, sales have been stable and bank holiday weekends are big business.

If Congress is unable to reach a debt-limit agreement, experts say it could mean tough times for small businesses across the country.

Carroll says he is currently in wait-and-see mode.

“What I’ve seen has been pretty stable compared to what it used to be (the pandemic) — COVID-19 was a little crazy,” he said. “We sold everything. It’s nice to have a choice for our customers. There is still a steady influx. I don’t think the debt ceiling will really affect us — America won’t go down that easily.”

If no agreement is reached, experts say small businesses could struggle to borrow money. While that opportunity is on the horizon, Carroll is looking forward to a busy weekend on the water in Clermont.

“This is huge for us,” he said. “We’re just getting ready. We make sure everything looks good and we do big sales.”

A CNN poll released this week shows that 84% of Americans polled think Congress should raise the debt ceiling. Of those polled, 60% think Congress should raise the debt ceiling along with spending cuts, while 24% think it should definitely be raised.

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