“The Inspector General’s review makes clear that the Trump administration must immediately fix the Paycheck Protection Program to help the truly small businesses that have so far not received the help they need," Schumer said. "SBA must do more to stop the special treatment for well-connected big business at the expense of legitimate small business struggling to stay afloat and support their workers during this pandemic.
"It may be important to consider that many small businesses have more operational expenses than employee expenses," he said.
Where is the oversight on this program? Did stevenmnuchin1 just hand over the keys to the banks with no instruction? The second attempt is no better than the first. stevenmnuchin1 needs to be held accountable!! How many eligible businesses have laid off their workers already?
It is just a matter of time someone will claim we are taking more money in than we paid out.🤔
Ithank for the info! f you have time you can also check us wanessmark
Heeeey what! Do you mean? The Fran w for free
Conveniently posted on a Friday,
NastyOldWomyn I could have told you this the day this stipulation came out. How do we pay rent when the business is closed? This law does not help with fixed costs at all and we cannot make up the loss of revenue after we open in order to pay the bills that will have added up by then.
I did not notice any difficult procedure imposed to corporations that were bailed out. They got the money as if that was their right. Strange, isn’t it?
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SBA Veered From Guidelines on Small-Business Loans, Report SaysThe Small Business Administration didn’t follow several congressional mandates in implementing its huge loan program designed to keep businesses afloat during the coronavirus pandemic, the agency’s inspector general said. What a travesty for the small Mom n Pops who’ve lost everything because of the SBA corruption. Yes, let’s call it what it is. MANY INDIVIDUALS, COMMERCIAL ORGANIZATIONS FORGET SAVINGS AND DEPENDS MORE ON CREDITS. THE LOCKDOWN CAN BE FACED COMFORTABLY WITH SAVINGS. ANCIENT INDIAN HABITS OF SAVINGS TO PREPARE FOR UNFORESEEN EVENTS IS MUCH HELPFUL. 'SAVINGS, INVESTMENTS' FOR COMFORTABLE, SECURED FUTURE.
La source: WSJ - 🏆 98. / 63 Lire la suite »
SBA Veered From Guidelines on Small-Business Loans, Report SaysThe Small Business Administration didn’t follow several congressional mandates in implementing its huge loan program designed to keep businesses afloat during the coronavirus pandemic, the agency’s inspector general said. What a travesty for the small Mom n Pops who’ve lost everything because of the SBA corruption. Yes, let’s call it what it is. MANY INDIVIDUALS, COMMERCIAL ORGANIZATIONS FORGET SAVINGS AND DEPENDS MORE ON CREDITS. THE LOCKDOWN CAN BE FACED COMFORTABLY WITH SAVINGS. ANCIENT INDIAN HABITS OF SAVINGS TO PREPARE FOR UNFORESEEN EVENTS IS MUCH HELPFUL. 'SAVINGS, INVESTMENTS' FOR COMFORTABLE, SECURED FUTURE.
La source: WSJ - 🏆 98. / 63 Lire la suite »
House coronavirus oversight panel demands large companies repay small-business loansSpeaker Nancy Pelosi's select committee overseeing the federal coronavirus response has settled on its first course of action: name and shame Good -- companies that took advantage of the program *should* be exposed. VoteBlue2020 Isn’t that ALWAYS her course of action. Let’s be fair she hasn’t changed anything. Shame her for telling people it was no big deal
La source: politico - 🏆 381. / 59 Lire la suite »
Lloyds lends over $1.2 billion on first day of Bounce Back program - Business InsiderLloyds Banking Group lent over $1.2 billion to small businesses on Monday when the UK's government-backed Bounce Back loan scheme opened.
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Small business owners in hardest-hit states were less likely to get relief loans, study showsSmall businesses in states hardest hit by the coronavirus -- including New York, New Jersey, Michigan and Pennsylvania -- were less likely to get federal coronavirus relief loans than less-affected states in other parts of the US, according to research from economists at the Federal Reserve Bank of New York. What's really amazing is the 'small businesses' that got the relief loans WERE LARGE COMPANIES NOT THE MOM AND POPS that are really struggling to stay afloat we need to know who the institutions in charge of disbursement are so we can hold them ACCOUNTABLE
La source: CNN - 🏆 4. / 95 Lire la suite »
House coronavirus oversight panel asks five companies to return loans meant for small businessesThe House Oversight Committee's new select coronavirus oversight panel sent letters to five different companies on Friday asking them to return loans they received from the Paycheck Protection Program set up during the pandemic to aid struggling small businesses.
La source: CNN - 🏆 4. / 95 Lire la suite »