The small-business loan program that received a new infusion of cash last week reopened with a sputter Monday as the Lakers became the latest high-profile name todesigned to boost small, struggling companies during the coronavirus pandemic.
The intense demand for the small-business program comes as several large companies have returned loans they received in the program’s initial days. The Lakers on Monday said the franchise would return $4.6 million.The Lakers — like Shake Shack, Ruth’s Chris Steakhouse, Potbelly and a handful of others — faced a backlash on social media, from lawmakers and Trump.
Democrats on Capitol Hill demanded that the program develop safeguards to ensure that the money reaches businesses that are truly small and truly need it. The loans are forgivable if employers agree to keep on most workers during the pandemic.
In addition to the criticism that large companies have been able to access the program, the Trump administrationalso has been under fire for allowing large banks to access the program more easily than smaller ones. Banks have also favored their clients, leaving out microbusinesses or entities without a preexisting banking relationship. The latest funding bill earmarked $60 billion for such companies that complained of being shut out during the first round.
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:
Boo, Lakers
Or this
Why not make a story about this?
I totally cannot believe the Lakers took money? Seriously? 55,000 Americans dead and the Lakers do a money grab? Wtf?
AEG who owns part of the team is a multi billon dollar company. The Lakers shouldn’t have gotten a dime.
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.
Even The LA Lakers Got A PPP Small Business LoanThe Los Angeles Lakers — one of the NBA's most profitable franchises — have returned money they received from a federal loan program intended for small companies. More than 200 public companies are still holding onto money from the program. Sure do love them little ma-&-pa NBA franchises. Publicly traded companies have shares they can issue or various other ways to raise money this whole PPP Small Business Loan program is a complete fraud joke corruption whatever federalreserve Where can we find a list of these public companies?
Source: NPR - 🏆 96. / 63 Read more »
Los Angeles Lakers got $4.6 million in coronavirus federal loan money for small business, but repaid itThe Lakers have returned that money after learning that the pool of federal loan assistance from the Small Business Administration's Paycheck Protection Program had been drained of cash because of the huge demand for it, according to the franchise. Keep airing everyone one out. This is madness. Free money unless you get outed publicly 🤦♂️
Source: CNBC - 🏆 12. / 72 Read more »
Small Business Loans Site Crashes On 1st Day Of ReopeningBankers have been piling up Paycheck Protection Program applications for small businesses since April 16, when the loan fund ran out of money. It reopened today after Congress added $321 million, but no one can file because the website keeps crashing. Fake news. Filled out 3 today Surprised; of course not. XD Bankers get 6% of every loan they make. How is this allowed?
Source: NPR - 🏆 96. / 63 Read more »
Small-Business Loan Program Resumes With Reports of DelaysThe government has resumed taking applications for its small-business aid program, but lenders say overwhelming demand is causing delays and glitches The definition of revolution “Overthrow the old world and build a new world.” The revolutionary spirit also comes from here. What is the revolutionary spirit In practice the revolutionary spirit means speaking the truth, doing practical things, and not deceiving the people. Return to glory(3) and must needs to know who's the real threat to humanity. For decades, the leaders of the US are children, their actions have made the people of America and the world extremely dangerous. Only a true revolutionary way can save America. Return to glory(2) Excellent nations such as Russia and Ukraine should carry out revolution and production in their own country. Ukraine does not have to think about which group is attached; Russia does not need to think about the balance of big powers,
Source: WSJ - 🏆 98. / 63 Read more »
These stocks have the most exposure to small businesses and should be avoided, Goldman says'We recommend investors avoid firms with high small business exposure. Margin and default risks will be highest for small businesses,' a strategist said. Pro This is disgusting. Billionaire bankers just outright saying to avoid small business exposure while the printing press supports their portfolios.
Source: CNBC - 🏆 12. / 72 Read more »