Congress approved $370 billion more in small business loans, but the money could run out in days — again

James Lee, the owner of three restaurants in northern Manhattan, is not as optimistic as Lynch. He filed with Fountainhead the day the loan program launched, and the lender acknowledged his three applications had been received. About a week later, Lee received a bulk email from Fountainhead notifying him there was a surge of applications. It asked him for notification if he decided to remove himself from the queue and apply at another bank.

"We have moved heaven and earth over the last three weeks working in round-the-clock shifts 24/7 to get the process up so people are helped during this crisis," Hunt said.Even if the $310 billion in PPP funding is enough to meet demand, restaurant owners such as Lynch say the strings attached to the loans carry risks and make it difficult to use the money to pay mounting bills.if they retain their employees at the same level of pay and use 75% of the money to cover payroll costs.

"They need to relax the 75% rule and allow small business owners and restaurateurs to use that money the way they need to use it," Helbraun said. "What's happening now is restaurateurs and small business people are becoming unemployment offices," he said.

confirms Democrat foot dragging is making matters worse. It is time for the Blue States to work instead of setting new dates when they might start thinking about it. tt:MadMoneyOnCNBC larry_kudlow

this will all go to the well connected. the lowest run on the ladder will see nothing from this. the elites will just tell them to go to the food lines.

The most US economy is based on consumers and small biz. before. Now Seeing Equity markets and Asset markets, It's wrong. US market are in fire of rallying WITH NO CONSUMERS, NO WORKERS, ONLY FED'S LOAN... Why loans?FED print money and pay all instead people. It's only $14T

Just like the first round, 95% of us the 1 man operation Self Employed freelancers,are not going to see a Single Penny. Our lives are Valued and worth NO MORE then a lousy Credit Score. SBAJovita SBAgov USTreasury We are Collateral Damage left for DEAD by our government. CNN

'Small business' Saw how small business was considered by 'overseeing' Democrats Pelosi said. Anyone who managed to get application in first in by attorney written application.

There is a huge que. Dont expect to get anything.

Say it ain’t so! :(

United States United States Latest News, United States United States Headlines

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

After Shake Shack controversy, Treasury says public companies should repay loansThe new guidance came as Congress approved another round of funding for small business loans. Was the confusion they thought that if they were SBA qualified because they are just multi-million dollar companies instead of multi-billion dollar companies? Do you think liberals can muster up the courage to go out and support government designated 'non-essential' businesses? Right now it's okay for liberals to shop at virus-free dispensaries, liquor stores, grocery stores, walmart/costco, gas stations, home improvement stores etc. They are getting caught Dorian the swamp my ass
Source: ABC - 🏆 471. / 51 Read more »

Trump signs $484 billion coronavirus relief bill to boost small business, hospitals and testingThe new coronavirus relief package, signed by President Trump today, includes: -$310 billion in funds for the PPP -$60 billion for SBA disaster assistance loans and grants -$75 billion in grants to hospitals -$25 billion to bolster coronavirus testing Can't you do 400 million tests for $ 25 billion? $500M for Lysol injections. Government waste. Never should’ve shut everything down.
Source: CNBC - 🏆 12. / 72 Read more »

Small-business loan program restarts Monday with fresh hopes and $320 billionThe U.S. Small Business Administration will restart a government coronavirus relief loan program for small businesses next week with an additional $320 billion. 0 $ don't west your time if u have 0 $ you can make 500$ OR 1000$.. 5000 $ for real for real go to and make money time is gold great Bot in telegram let's go guys And what is the loophole that will allow corporations to line their pockets this time? But how long will that money last? 🤔
Source: latimes - 🏆 11. / 82 Read more »