from WallStForMainSt
It has only been a week but already we are hearing about many problems with the coronavirus small business SBA loan program both from the SBA and also from the banks that Congress put in charge of also giving out the loans.
Banks To Make Risk-Free Killing On Small Business Bailout: Fed Will Buy Payroll Loans Issued By Banks https://www.zerohedge.com/economics/b…
Small Business Guarantees Are a Bucket of Moral Fraud https://moneymaven.io/mishtalk/econom…
‘Nightmare’: 3 small-business owners describe process of applying for PPP coronavirus loans https://finance.yahoo.com/news/nightm…
Additional Articles On Coronavirus SBA Loan Payroll Protection Program (PPP):
1) White House looks to bolster small business lending program https://mobile.reuters.com/article/am…
2) Coronavirus PPP loans leave small firms confused, wary and rushing to secure cash to survive https://finance.yahoo.com/news/corona…
3) ‘Hot mess’: Small businesses besieged by problems getting coronavirus loans https://abcnews.go.com/Politics/hot-m…
4) ‘People Are Very Scared.’ Why Small Businesses Hit By Coronavirus Are Struggling to Get Emergency Loans https://www.yahoo.com/news/people-ver…
5) ‘It doesn’t make any sense:’ Restaurant owners push back against SBA loan restrictions https://finance.yahoo.com/news/it-doe…
6) Thousands of applicants, zero loans: Trump’s small businesses lending program is a failure to launch https://www.yahoo.com/news/thousands-…
7) About 70% of small businesses have applied for a Cares Act loan. It’s unclear how many have received them. https://www.washingtonpost.com/busine…
8) Tears of joy, 20-hour days: Virus aid trickles to the desperate https://www.chron.com/business/articl…
9) Small-Business Loans Face Delays Even as Coronavirus Program Expands