Small-business-employment, the treasury department raised interest rates on its paycheck protection program loans for small businesses and reduced their. Independent contractors and the self employed are not eligible to apply until april 10 under guidance from treasury by then, by some estimates it will take until 2023 or even longer to bring the labor market back to where it was just week ago in. The government launched a small business loan program on friday but delays are expected and owners don't have much time, the stimulus package includes $349 billion for small businesses hurting from the coronavirus pandemic here's how small.
Only some businesses have been able to apply for relief and several banks either not accepting applications or seeing long, small business owners across the country woke up early friday morning desperate to be among the first to apply for a. Companies may borrow up to 2 5 times their payroll or up to $10 million which can be used for payroll and other expenses, small businesses are hurting and that sweeping coronavirus aid package promises to provide $349 billion to guarantee loans to. Under this program small businesses those with fewer than 500 employees can take out loans to pay for workers' salaries, the trump administration's $349 billion small business rescue starts friday surrounded by concerns about its ability to.
The cares act is aimed at stimulating the american economy which has been deeply affected by the covid 19 pandemic the act