So far, Congress has passed two bills related to COVID-19 which have provisions specifically aimed at small businesses. They are: The Families First Coronavirus Response…
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In short, the Paycheck Protection Program may be about to run out of money in the coming weeks. But the government’s disaster lending has already turned into an immediate catastrophe of its own. In order for the small business rescue to work so that our towns and cities still look the same once the health crisis is over, both of these efforts need to function. They are complementary.
Democrats want to set aside money for smaller financial groups. Republicans see other ways to help.
Colin McIntosh, the millennial founder and CEO of startup bedding company Sheets & Giggles, last month vowed to retain his entire staff even as layoffs…
How much are stimulus loans helping today’s most innovative companies? Not much at all. In a new survey, Fast Company asked small businesses on our Most Innovative Companies list…
Even as small businesses have applied for more than half of the $350 billion allotted for the Paycheck Protection Program — and all the funds…
The American Bankers Association reported on April 12 that $205 billion of the $350 billion appropriated for Paycheck Protection Program (PPP) loans has been claimed.
A week into the U.S. government's unprecedented $349 billion lending program, many embattled small-business owners still don't know when their funds will arrive.
The administration is in a race against time, trying to provide families and businesses with enough money to survive the devastating economic plunge caused by the pandemic. Neither the White House nor the Treasury Department could say when asked late last week how much of the $2.2 trillion has actually reached needy Americans. Economists have said that the cash infusions will be crucial for sustaining the world’s largest economy.
Lenders face continued difficulties in issuing financing under the $349 billion small business relief effort the Trump administration launched a week ago in response to the coronavirus outbreak, leaving mom-and-pop firms at growing risk of failure.
Desperate small business owners who hoped for a quick government lifeline to help them survive the coronavirus crisis are still without funds, instead battling red tape, wary banks and swamped computer systems.