Miller fears his restaurants can only make it another six to eight months absent more federal aid or a resumption of normal business.Funding issued through the Small Business Administration has been a financial lifeline for millions of small businesses during a recession that hit faster than any other in American history.
"How long will this last?" asked Lisa Hess, founder of Lucy's Coffee in San Luis Obispo, California. The firm took a PPP loan of about $23,000 and used up the cash in approximately six weeks. Hess has a second lifeline through the Economic Injury Disaster Loan program, a federal loan for small businesses affected by the Covid-19 crisis. She is reluctant to continue borrowing, especially since cash flow is tight.
Another $135 billion was issued through the disaster loan program, with an average loan of about $60,000., changing rules and limitations that made it difficult for some businesses to take advantage.
OF COURSE ITS NOT ENOUGH kanyewest AND THE CATHOLIC CHURCH WHO BOTH GOT PPP MONEY -THE CHURCH RECEIVED A BILLION $$ AND THEY DONT EVEN PAY TAXES YE HAS TOO MANY ASSETS HE COULD HAVE SOLD AND WHO NEEDS FRIKN TENNIS SHOES WHEN REAL BUSINESSES ARE GOING UNDER WHERE IS OVERSIGHT
RITZHOLTZ WEALTH, AND JOSH BROWN GOT TAXPAYER $$$$. i hope they're ok, I mean, it's not like they are struggling any less than other small business. wonder if they'll take it as a grant and never pay it back? prolly
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