Skittish Treasury Hobbles Small-Business Loan Plan
The Trump administration is hampering a Federal Reserve lending program that could help keep small and mid-sized businesses afloat during the coronavirus recession.
The Trump administration is hampering a Federal Reserve lending program that could help keep small and mid-sized businesses afloat during the coronavirus recession.
Entrepreneurs and small business owners across the country have undoubtedly been hit hard by today’s pandemic with many non-essential businesses remaining closed until further notice.
Restaurant executives and industry leaders pushed President Trump on Monday to make fixes in the $660 billion small-business aid program that was enacted amid the coronavirus pandemic to allow them to get their businesses running again and rehire workers.
According to the state’s chapter of the National Federation on Independent Business, 96% of businesses in South Carolina are considered small businesses.
Of small and medium-sized businesses that have been forced to shut down during the coronavirus pandemic, more than half of owners surveyed by Facebook said they won’t rehire the same workers they had before the crisis.
Gov. Tony Evers said Monday he would hand out $75 million to small businesses that have lost money after the coronavirus pandemic shut them down.
Carlos Marroquin dropped wearily onto a wooden bench in the center of the tiny Newhall soccer shop to which he has poured 15 years of his life and all of his resources.
Lawmakers and government officials are preparing to make significant changes to the Paycheck Protection Program, amid cooling demand for…