Momentum builds for restaurant-backed small-business program changes

Posted on AllSides May 6th, 2020
From The Center

Bipartisan support is growing for a fix to the massive new small-business lending program created in March that would let recipients spend less on payroll and still qualify for debt forgiveness.

Businesses, including many restaurants and hotels, have complained that the forgivable loans offered under the so-called Paycheck Protection Program come with too many strings attached.

The Small Business Administration, which runs the program, has required that at least 75 percent of the loan money be spent on payroll to meet a congressional objective of keeping workers employed during the...

Read full story

AllSides Picks

https://www.rollcall.com/2020/05/06/momentum-builds-for-restaurant-backed-small-business-program-changes/

More News about Business from the Left, Center and Right

From the Left

From the Center

From the Right