Restaurant owner says small business loan not enough to immediately bring workers off furlough

  • 📰 CNBC
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

'We have to wait until we have a very clear pathway to success,' Junior's Cheesecake owner Alan Rosen said.

Loans made through the program can be forgiven if they are used to cover payroll, and certain other expenses such as rent, in the eight-week period after the loan is made,

But it's not clear when that green light is going to arrive, Rosen said. If it takes until the end of June, the loan "would be wasted because we'd be closed after we used up that money," he contended.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

How did this guy get a loan anyways, supposed to be for companies with 500 employees or less. Pay your people even if they aren't working.

Was a very concerning interview. They got $5M and are not hiring back their employees until they are allowed to open again? That makes no sense to me, money is supposed to be used to pay employees. If they don’t hire back employees, then they should need to pay back the loan

Why are you showing pictures of delicacies like these at a time when the store is closed ?

The forgivable loans aren't a substitute for your profits. It's for your employees & rents etc.

SmallBusinesses SmallBusiness SmallBiz ReopenAmerica CoronaVillains

Seems it’s the Democrats holding up further aid to small businesses. Obviously they will hold up aid to hard working people in order to give it to illegals. Not big business, they can stand on their own, small businesses need help.

That wasn’t the point.

Yes, but those cheesecakes look good tho

Businesses won’t come back until they are convinced that people are ready to spend money again.

SenSchumer loves this place

But Mnuchin and Trump don’t care about small business. They’re not publicly traded like an airline. ALL MNUCHIN and Trump care about are their friends in the Stock Market.

Have any small businesses received the disaster loan yet?

i am afraid that many small business will be gone for forever when the crisis is over

Who wants to bring back workers when you're forced to be shut down?!? It's absurd. OPENAMERICANOW

Mask off. UBI and Medicare For All now.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Kabbage discontinues lending operations amid the coronavirus pandemic - Business InsiderICYMI: Kabbage's decision to suspend credit could hurt customer satisfaction in the short term, but its decision is along the same lines as other lenders
Source: BusinessInsider - 🏆 729. / 51 Read more »

Unapproved lenders try to sign up borrowers for small business loansOnline lenders, or 'fintechs,' have flooded the small business loan market in recent years. Now some want a piece of the new SBA coronavirus loan program. Greedy fucks Nope i want a piece of carole fuckin bascunts
Source: NBCNews - 🏆 10. / 86 Read more »

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.
Source: BusinessInsider - 🏆 729. / 51 Read more »

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?
Source: NBCNews - 🏆 10. / 86 Read more »