U.S. Expected to Revise Small Business Aid Program

WASHINGTON—Lawmakers and government officials are preparing to make significant changes to the Paycheck Protection Program, amid cooling demand for government-backed loans and criticism from business owners who say they can’t tap the funds.

The changes are likely to include giving businesses more flexibility to spend the money, according to lawmakers and others following the deliberations. Under the original terms, 75% of the funds were required to be spent on employee salaries for the loans to be forgiven.

Government: shoot, aim, load.

Hi my name is Hannah despite being quarantined because of covid19, I have made $10,000 with a startup capital of $1000, This is more than my usual salary Dm to start investing on what you'll benefit from

How about giving out the funds? BankofAmerica deliberately sabotages my application, didn't send docs, refused to tale my calls, and still won't call me back. And they got away with it because the big corps got all the attention.

Where is this place where a haircut is $9.00? 🤔

You must be kidding me. If they keep changing the rules, how can we hope to be compliant

Seniors have less hair. Why $8?

It can't be managed locally the Governor can't get unemployment to work right, even with warning especially when Pelosi made sure it was used to keep Americans from getting checks with Trump's signature on it. She knew the 40 year old system would fail but it didn't matter

AMERICAN BANKRUPTCY IN PROGRESS COURTESY OF THE LYING CORRUPT CRIMINAL PRESIDENT AND HIS ADMINISTRATION.

Here is a plan: just reopen. Florida and Georgia are leading the way.

Amazing that it took 'officials' so long into the crisis before the realized that their initial scheme was a ridiculous failure. Now how long will it take them to implement something that actually helps small business to survive state-imposed closure?

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Magic Johnson Makes Another Assist—to the Small Business Aid ProgramEarvin “Magic” Johnson said his EquiTrust Life Insurance Co. will provide $100 million in capital to fund loans for minority-owned businesses through the Small Business Administration’s Paycheck Protection Program. That's is so respectable ❤️ Just tell us how you cured that virus homie Perhaps Earvin doesn't think white communities were hit hard by the Coronavirus. This is racism in it's purest form.
Source: WSJ - 🏆 98. / 63 Read more »

Reality star charged with spending funds from federal small business program on jewelry, Rolls-RoyceMaurice “Mo” Fayne, from “Love & Hip Hop: Atlanta,” is one of the first people to be charged with misusing the funds. He is fighting the charges in court. Probably not - the usual 😂 The prosecutors probably entrapped him, & rushed the case because he was a black guy. Any good lawyer would have his case dismissed in court - the law’ vague on these funds, as they were rushed by Senate without much thought. Big Companies were asked to just pay back.
Source: washingtonpost - 🏆 95. / 72 Read more »

Exclusive: U.S. Justice Dept. subpoenas Wall Street banks for small business loans info - sourcesThe U.S. Justice Department has sent grand jury subpoenas to big banks seeking records as part of a broader investigation into potential abuse of a $660 billion emergency loan program to help small businesses hurt by the novel coronavirus, two people with knowledge of the matter told Reuters. Wells Fargo has been caught doing anything awful for at least a week. I wonder how much of this money went through them. Wells Fargo hasn't been caught doing anything awful for at least a week. I wonder how much of this money went through them. Those banks are businesses too, why not loan them money too?
Source: Reuters - 🏆 2. / 97 Read more »