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Small businesses are seeking emergency loans in massive numbers. overwhelming the system.
Updated at 3:45 p.m. ET · The $349 billion Paycheck Protection Program to boost small businesses during the coronavirus economic crisis has run out of money. "The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding," a Small Business Administration spokesperson said in an emailed statement Thursday. "Similarly, we are unable to enroll new PPP lenders at this time." · An online portal for lenders had an identical mes...
To remain resilient, small businesses should have and actively contribute to a business emergency fund. Here's why your business needs an emergency fund.
Small business loans from the Economic Injury Disaster Loan program are plagued by delays and inadequate funding, leaving many ailing entrepreneurs short-handed.
Some entrepreneurs hurt by the coronavirus shutdown say they’re facing delays tapping emergency loans from the Small Business Administration, even as the White House calls for billions more in fund...
As criticism of the government's emergency loan program for small businesses known as Canada Emergency Business Account (CEBA) mounts in some quarters, there are calls for other ways to combat the...
The Small Business Administration’s (SBA) emergency lending program reopened Monday to a crush of applications as business owners hit by coronavirus restrictions scramble to secure aid before the n...
CARES Act, Paycheck Protection Program and Economic Injury Disaster Loans Help Franchisors, Franchisees, and Small and Mid-Size Businesses
There are millions of small and mid-sized businesses in the U.S. with 500 employees or less. If the SBA has $50 billion and makes $1 million emergency loans, it could help 50,000 firms.