, as of April 14, had 300,000 applications in varying stages for $37 billion in loans, with $9.3 billion already into the hands of small business owners.Small businesses like Other Half Brewing, a craft brewery with locations in Brooklyn and Rochester, NY, just had its loan funded by Chase. CFO David Burman said the company had to furlough about a quarter of its staff of under 100 employees, and moved other frontline workers into new positions, whether delivering beer orders or design work.
"These are some of our most vulnerable small businesses. Because you know, if they got an SBA loan, they probably had difficulty getting a traditional bank loan," Sen. Chris Coons , a member of the Senate Small Business & Entrepreneurship Committee says. "So these are exactly the companies we want to make sure know that for the next six months, they don't need to do anything.
Treasury Secretary Steven Mnuchin has vowed to replenish the program to the tune of another $250 billion, but Congress has yet to agree to terms on the new funding. Senate DemocratsAnother option for Main Street businesses needing assistance is the Economic Injury Disaster Loan program, which provides disaster assistance loans of up to $2 million.
CNBC Maybe they should have used a bit of this:
CNBC Thank you Democratic House!
CNBC Good I’m starting a wooden dildo manufacturing company with these low interest rates
Holy...
Who's getting the money? Not my small business that's totally shut down!
JerrValtNews Thank Pelosi and Schumer for playing politics
Meanwhile Pelosi nowhere to be found
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