As loans run out, small businesses face reckoning amid COVID-19 surge

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Now many of the nearly 5 million US companies that got loans say the relief money is running out with little sign the virus is loosening its grip on the economy.

Farid Nouri of Washington, D.C., is shutting down his popular nightclub of 25 years and auctioning off furniture and leftover liquor to pay off debt. The pandemic made the decision "pretty clear cut," he says.

, predicts as many as 20-30% of all American small businesses could close for good during the pandemic. Small business owners Mia and Okera Stewart of Washington, D.C., say the coronavirus pandemic and looting during recent protests have dealt a financial blow that is testing their ability to remain open.has allocated more than $670 billion in guaranteed loans to help businesses with fewer than 500 employees. If recipients use at least 60% of the loan to cover payroll or rent, the loan will be forgiven.

Mia Stewart, owner of Haute Hair in Washington, D.C., is among small business owners who have experienced difficulty applying for an emergency loan with the government's Paycheck Protection Program.

 

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The Catholic Church will need more money.

Virus isn’t going away as we have POTUS VP AWOL and still pushing the lies and it will disappear. SenateGOP HouseGOP Continue to support a WH that has no plans to lead. GOP Officials across each state continue to perpetuate the lies on masks and no danger. 133,000 dead

Stop pedaling fear and give the facts. The death rate is declining. The economy is waiting to bounce back. This has become a political tool. Remove the unreasonable unscientific restraints and the country will bounce back God willing.

Yet airlines have gotten 50billion government bailouts and keeping people’s money after they cancel flights. Posting new flights for much higher price. And some to countries on lockdown! And then cancelling those flights!! scamdemic2020

Only the Mask Mafia Karens are afraid of catching a cold in the dead of summer.

Don't know why it's spreading

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