Small business loans top $296 billion and could reach the program's limit by the end of Wednesday

, as of April 14, had 300,000 applications in varying stages for $37 billion in loans, with $9.3 billion already into the hands of small business owners.Small businesses like Other Half Brewing, a craft brewery with locations in Brooklyn and Rochester, NY, just had its loan funded by Chase. CFO David Burman said the company had to furlough about a quarter of its staff of under 100 employees, and moved other frontline workers into new positions, whether delivering beer orders or design work.

"These are some of our most vulnerable small businesses. Because you know, if they got an SBA loan, they probably had difficulty getting a traditional bank loan," Sen. Chris Coons , a member of the Senate Small Business & Entrepreneurship Committee says. "So these are exactly the companies we want to make sure know that for the next six months, they don't need to do anything.

Treasury Secretary Steven Mnuchin has vowed to replenish the program to the tune of another $250 billion, but Congress has yet to agree to terms on the new funding. Senate DemocratsAnother option for Main Street businesses needing assistance is the Economic Injury Disaster Loan program, which provides disaster assistance loans of up to $2 million.

CNBC Maybe they should have used a bit of this:

CNBC Thank you Democratic House!

CNBC Good I’m starting a wooden dildo manufacturing company with these low interest rates

Holy...

Who's getting the money? Not my small business that's totally shut down!

JerrValtNews Thank Pelosi and Schumer for playing politics

Meanwhile Pelosi nowhere to be found

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

How small businesses can access PPP loans through fintech services - Business InsiderFintech companies are able to streamline the application process for federal loans because they already have similar systems in place. Fed needs to cut out banks. List as $FED on exchange, offer guaranteed dividend; raise and lower dividend as economy needs it.
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Political Consultants Sue for Access to Small Business LoansA trade association of political consultants is suing the Trump administration, arguing that the Small Business Administration is violating the First Amendment rights of its members by barring pollsters, lobbyists and campaign operatives from receiving emergency loans. F*** you Goldman sach and your BS opinion Wow! They don’t deserve a penny. 😀 Las mejores zapatillas para estar en casa
La source: WSJ - 🏆 98. / 63 Lire la suite »

Small business loan program expands with PayPal, Square, IntuitA number of fintech companies -- many of them household names -- can now participate in the federal government's Paycheck Protection Program. Go into debt while we just give major corporations billions because they own these politicians...
La source: ABC - 🏆 471. / 51 Lire la suite »

Democrats call on Trump admin to offer guidance on small business aid programA group of two-dozen House Democrats have sent a letter asking for guidance for financial institutions on which small businesses can receive loans from the latest coronavirus relief package. What’s your definition of guidance? I’m thinking the Democratic Party definition is do as I say or else. what about the workers of those businesses?
La source: NBCNews - 🏆 10. / 86 Lire la suite »

Small-Business Funding Dispute Challenges Community LendersCommunity lenders are having a tough time getting a piece of the $350 billion set aside under the SBA’s Paycheck Protection Program (Corrects an earlier tweet that said this figure was $350 million, which has been deleted)
La source: WSJ - 🏆 98. / 63 Lire la suite »