Here's why many small businesses are worried about surviving the coming months:
Independent businesses struggle to survive as federal government fails to deliver payroll protection loans.
Other worries, according to a May 1 National Federation of Independent Business survey of its membership: Shortages of hand sanitizer and face masks and the availability of credit from lenders in the future.And many small businesses fear that opportunistic lawyers will leverage the COVID-19 pandemic to sue businesses trying to protect employees and customers in good faith, Wade said. Congress is grappling with the liability issue, which could affect companies of any size.
Justman applied for a loan on the first day of the program, April 3, through Wells Fargo and, later, U.S. Bank. Neither application went anywhere.On Saturday, Justman applied again through Quicken, whose software Pawnmart uses for payroll processing. That loan was approved within hours and the cash showed up Tuesday. Meantime, Wells and U.S. Bank continue to send emails to let Justman know his requests are still pending.
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