Just business. Photo: David L. Ryan/The Boston Globe via Getty Images/2020 - The Boston Globe When Congress passed a $349 billion bailout of American small businesses last week, the program appeared to suffer from three deficiencies.
Second, it was unclear whether the program would encourage firms to rehire staff they had previously cut. One of the policy’s clear virtues was that it incentivizes firms to retain employees: Although structured as a loan program, so long as businesses do not lay off any staff or impose any pay cuts, the loans will be forgiven after two months . But theoretically, a company might be able to subvert the program’s intention by firing staff before applying for a loan.
Which brings us to the first critical clarification in Tuesday’s guidance: Small businesses don’t need to work through the SBA or its affiliated lenders to secure loans, but, rather, can apply for them at most any “federally insured depository institution, federally insured credit union, and Farm Credit System institution.” In other words, an eligible business owner should be able to walk into just about any FDIC bank and secure enough capital to cover payroll for two months.
Is a sad world wide situation for that i try to pasa my days praying and reading now i start the Caligo Andrea's saga thriller: Obsesión.
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Small-business owners face tough decisions as they wait for government loans to arriveThe CARES Act signed into law last week will throw small businesses a much-needed lifeline in the form of billions of dollars in loans. But until the money starts flowing, small business owners face a number of tough decisions. $AMC will be booming cc: dlrahall No, it will toss welfare to the privileged--those who bend the knee to government to partake in what is a right of every Amerikan--free enterprise, entrepreneurship. This is nothing but welfare, the same as the pork barrel contained in the legislation. Immoral. Unjust. Socialism.
Source: CNBC - 🏆 12. / 72 Read more »
Small business owners can apply for loans from $349 billion Payroll Protection Program starting FridaySmall business owners will be able to apply for loans to weather the economic downturn set off by Covid-19 on a first-come, first-serve basis beginning Friday as part of the newly passed stimulus package I'm too nervous that releasing loans to small businesses now is too early without necessarily assessing the face direction of overall response to COVID-19 combat measures could be counterproductive risky in jumpstarting the economy, otherwise, a 2nd stimulus Marginal small businesses should not be taking on more debt going in to a period of uncertainty .... especially if they have to personally guarantee this debt!
Source: CNN - 🏆 4. / 95 Read more »
Small business relief payments may be delayed due to high demandWATCH: Coronavirus relief payment to small businesses could be delayed due to high demand. USA not broke - where did $$ go? sure, small businesses get screwed but i'll bet those big businesses and the wealthy will get theirs first. Here is some imaginary money now get to work
Source: MSNBC - 🏆 469. / 51 Read more »
Citigroup CEO Michael Corbat says bank is 'working around the clock' on small business relief programLenders, who are being paid fees to administer the program on behalf of the Small Business Association, will face pressure to execute the program smoothly. LOL CNBC IS BS
Source: CNBC - 🏆 12. / 72 Read more »