Here’s where the first round of Small Business Administration loans went
WASHINGTON—Most of the federally guaranteed small business loans approved so far are for less than $350,000, with the construction industry the biggest beneficiary, according to data released by the Small Business Administration.
Through Monday, more than 85% of approved loans were for amounts smaller than $350,000, with loans of that size accounting for 29% of all approved funds, the SBA said this week. More than 3,000 companies received loans of $5 million or more—accounting for 9.2% of dollars loaned so far.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Small business tool Square to roll out coronavirus stimulus loan applicationsSquare, the payment tool many small businesses use to process customers' credit cards, said it will begin rolling out stimulus loan applications to its customers, as part of the U.S. government's Paycheck Protection Program.
Read more »
Their loan money was supposed to arrive in days. They've waited weeksSmall business loans from the Economic Injury Disaster Loan program are plagued by delays and inadequate funding, leaving many ailing entrepreneurs short-handed.
Read more »
To save the US economy, policymakers need to understand small business 101The small business landscape has changed dramatically over the last few decades, and policymakers need to understand the demographics in order for economic stimulus to be properly aligned for Main Street.
Read more »
Hedge fund managers are claiming coronavirus bailouts as small businessesHedge funds and other trading firms might be able to participate in a historic stimulus package to keep small businesses alive through the coronavirus pandemic.
Read more »
Restaurant owner says small business loan not enough to immediately bring workers off furlough'We have to wait until we have a very clear pathway to success,' Junior's Cheesecake owner Alan Rosen said.
Read more »
Junior's Cheesecake owner says it's an 'honorable' decision to wait to use small business loans'If we take this money and don't treat it like the precious capital that it is ... then we've done a disservice to everyone,' Junior's Cheesecake owner Alan Rosen told CNBC.
Read more »