Mnuchin says he will ask for more small business loan funding if $350 billion pool runs out
The $350 billion loan program aims to help small businesses cover payroll and benefits during the coronavirus pandemic.
Mandel Ngan | AFP | Getty ImagesThe small business measures aim to help companies cover payroll and other expenses during the punishing outbreak. Firms with fewer than 500 employees can use the money to cover salary, wages and benefits, with a maximum loan of $10 million or 250% of monthly payroll.
The loans will be available through Small Business Administration approved lenders. Payments will be deferred for six months, and companies can apply for forgiveness on at least part of what they borrow.Companies can get the loans forgiven if they use the funds on pay, rent, mortgage or utilities, but the amount forgiven gets reduced if businesses cut jobs or reduce pay.Read more: CNBC »
So in a few weeks ? John Oliver will play Steve Mnuchin in the new OFF OFF Broadway: The Life Of A Con Man... Starring Donald Trump Can you ask him if they are going to think about loosening the time table on the 8 week period of forgiveness? Many can’t rehire yet b/c they are under state/local orders to not open. Money could be more effective if the 8 week period could be delayed further into Q2.
How much money is this fool pocketing for his retirement? Since the bailout of the big corporations is done, let’s now think about the real engines of our economy. More More More The guy who said 2 billion was all the administration needed 3 weeks ago...
Small-Business Loans Expected to Start Friday, Mnuchin SaysTreasury Secretary Steven Mnuchin said he expects details will be released later Monday on how small businesses disrupted by the coronavirus pandemic can tap a new loan program likely as soon as Friday. put people back to work in sections where virus is low quarantine peope who r sick wear gloves and masks to work Can't wait for the day Mnuchin joins the other trump cronies in jail. What he did to people in California during the 2008 recession is criminal!!!!
Small business owners can apply for loans from $349 billion Payroll Protection Program starting FridaySmall business owners will be able to apply for loans to weather the economic downturn set off by Covid-19 on a first-come, first-serve basis beginning Friday as part of the newly passed stimulus package I'm too nervous that releasing loans to small businesses now is too early without necessarily assessing the face direction of overall response to COVID-19 combat measures could be counterproductive risky in jumpstarting the economy, otherwise, a 2nd stimulus Marginal small businesses should not be taking on more debt going in to a period of uncertainty .... especially if they have to personally guarantee this debt!
Who Is Eligible For Small Business Loans In The Economic Stimulus Package?The law provides clear guidelines on what small businesses are eligible, and what their loans will look like.
Rachel Zoe Says It's a 'Catastrophically Sad' Time for Small Businesses Amid CoronavirusCatch PEOPLE Now every weekday at 1:00 p.m. ET/10 a.m. PT on People.com or on the PeopleTV app on your favorite streaming device. Want even…
Understanding What Really Matters To Help Make A Small Business Successful. Eight Guiding PrinciplesIf you are in a small business or helping small business grow, then understand and follow these eight principles. Manage your cash flow and avoid loans.
Small-business owners face tough decisions as they wait for government loans to arriveThe CARES Act signed into law last week will throw small businesses a much-needed lifeline in the form of billions of dollars in loans. But until the money starts flowing, small business owners face a number of tough decisions. $AMC will be booming cc: dlrahall No, it will toss welfare to the privileged--those who bend the knee to government to partake in what is a right of every Amerikan--free enterprise, entrepreneurship. This is nothing but welfare, the same as the pork barrel contained in the legislation. Immoral. Unjust. Socialism.