The Plaza Theatre in Atlanta has been around since 1939. Christopher Escobar, its current owner, has been operating it for about a decade. When the coronavirus ravaged small businesses, Escobar made the tough decision to close his theater for now, seek online sources of revenue, and apply for aid from foundations and the government. The Plaza has now been shut down for more than a month, but Georgia Gov. Brian Kemp recently passed an order allowing small businesses to open back up.
Kemp’s hearing from people who are saying, “I was told by the federal government that, if I lose my job because I’m an independent contractor or a freelancer, I’d be taken care of.” That’s not been the case, and they’re rightly furious. And small-business owners who’ve been told, I told my staff, before they went on unemployment, that I wanted them to start drawing from the paid time off. And for some of them, even though they didn’t come into work for three weeks, their paychecks didn’t change.
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Mnuchin sends top deputy to fix small-business loan messTreasury Secretary Steven Mnuchin has tapped his most trusted lieutenant to help guide the $670 billion small business loan program that's intended to save millions of jobs during the Covid-19 pandemic Bullshit. IT's all going to Wall Street, just like most of the other stimulus money. And they in turn will use it for their projects in China.
Source: politico - 🏆 381. / 59 Read more »
Small-business loan program discriminates against women and minorities, lawsuit allegesA class-action lawsuit alleges the Paycheck Protection Program is discriminating against women and minorities, who are more likely to own businesses without employees. bruh what kind of business doesn't have employees the point of the program is to save as many jobs as possible... if you don't employ anyone.... why should you have access to the fund? Are you surprised? .... And POTUS is proud about this.
Source: MarketWatch - 🏆 3. / 97 Read more »
SBA watchdog probes small business loans as scrutiny intensifiesThe response came after Warren and Velázquez asked the SBA and Treasury Department inspectors general to investigate the Paycheck Protection Program. Bad things are always going to happen in life. People will hurt you. But you can't use that as an excuse to hurt someone back.
Source: politico - 🏆 381. / 59 Read more »
Treasury Secretary Steve Mnuchin calls for private schools with large endowments to return small business loans'It has come to our attention that some private schools with significant endowments have taken PPP loans,' Mnuchin wrote on Twitter, 'They should return them.' What about public schools with huge and profitable football programs? Greed knows no bounds. Harvard isn’t going to return the money.
Source: Newsweek - 🏆 468. / 52 Read more »
Elite D.C. School, Sidwell Friends, Takes $5.2 Million Small Business LoanSidwell Friends — an elite D.C. school with alumni including the children of presidents Obama, Clinton and Nixon — received a $5.2 million Paycheck Protection Program loan. Its board said the goal was to avoid layoffs and furloughs. (wamu885) wamu885 Got nothing else to say so oh ok then. wamu885 I find many of the schools and companies that received money to be highly improper; private schools and CEO'S that earn millions a year. Another thing is that the lists of who received funds not available to taxpayers... Corrupt choices? wamu885 disgrace--Get money from your wealthy alumni. I know many many small businesses hanging on by a shoestring who got NOTHING. Total Federal Government shit show. BarackObama MichelleObama you should be ashamed. You can prop them up. Give trump 4 more years. Who cares anymore?
Source: NPR - 🏆 96. / 63 Read more »