Insult To Economic Injury: Small Businesses ‘Angry, Desperate’ Over Emergency Loans In Limbo

Small businesses expecting to get relief from the federal CARES Act are still waiting for the loans they’ve been promised.

By Paul Flahive April 9, 2020 9:30 am, , , , ,

From Texas Public Radio:

Small businesses dealing with the dramatic drop in cash-flow caused by shelter-in-place orders and social distancing thought they would have a quick $10,000 in federal assistance to weather the storm. But for many, the program initially set up for natural disasters has thus far failed to pay out.

David Lee owns Blue Moon Construction and employs one other person. They do specialty land clearing for property owners in St. Petersburg, Florida. He opened in 2006 and made it through the Great Recession.

He said in a time when 80% of his industry closed, he prided himself on never missing any payments. But now, in the midst of another historic unemployment and economic crisis, it feels different.


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