Smaller businesses continue to be waiting for emergency loans вЂ” and dealing with a dilemma on how to invest them
Bob Giaimo, creator associated with Silver Diner restaurant string, is hoping to get crisis financing into the coming days through a federal loan system. But he does not desire to invest the funds straight away.
Small-business owners are likely to make use of the loans instantly to help keep workers to their payrolls through the coronavirus crisis, but during the minute there clearly was small for GiaimoвЂ™s workers doing. Their restaurants in Virginia, Maryland as well as the District would be closed for sit-down service until regional officials let them reopen.
вЂњGetting the mortgage is difficult sufficient. Deploying it is harder,вЂќ stated Giaimo, that is lobbying his users of Congress to get more flexible loan terms.
Their frustration is regarded as a variety provided by business people while they attempt to navigate the $349 billion Paycheck Protection Program вЂ” the week-old effort that Congress has already been considering expanding with another $250 billion in financing.Read More »Smaller businesses continue to be waiting for emergency loans вЂ” and dealing with a dilemma on how to invest them