Advocates say small and diverse businesses are inherently at a disadvantage when it comes to the SBA’s Paycheck Protection Program.
More than 86,000 federal loans totaling $12.7 billion have been approved for small businesses in Virginia for relief amid the coronavirus pandemic.
E-Tran, the Small Business Administration's electronic system used to help process applications for government-backed aid, has suffered glitches amid the first wave of applicants.
Many small businesses are trying to navigate through the COVID-19 pandemic, some forced to lay off workers, shutter their doors, with no luck getting federal assistance. But financial experts say there are some ways to keep the cash coming in even if you’re not getting a lifeline from the government.
A coalition of D.C. area music venues are asking lawmakers for aid in order to keep the live music business music going.
The Paycheck Protection Program ran out of its $349 billion fund in just two weeks. Recently, the Senate passed an additional $300 billion in funding for the program.
It has been 28 days since D.C. Mayor Muriel Bowser (D) ordered all nonessential businesses in the city to close -- a decision that forced thousands of layoffs and a flood of applications for unemployment benefits.
Bank officials have reportedly warned that the $450 billion package to replenish the earlier small business emergency fund will likely run out of money in just a few days.