Fate of Small Businesses not looking good, Paycheck Protection Program not getting to intended recipients

Linked in editor via email : linkedin

Small businesses that make up the fabric of communities and daily life in every corner the U.S. are closing their doors forever after the pandemic and subsequent closures ground income to a halt. Despite multiple programs launched aimed at helping local firms survive, 100,000 have already shuttered, according to a recent study. The Paycheck Protection Program was supposed to keep micro businesses alive but reports soon emerged that corporations like Shake Shack and the LA Lakers received the loans and many are refusing to return the money. The program can be converted into a grant if certain conditions are met but those benchmarks continue to be altered, saddling owners with loans they can’t repay… (more)

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