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Washington advised banks to favor existing customers, leaving out many Black- and women-owned businesses, according to a House subcommittee.
“New York is being emptied out. And you can feel it at the store level.”
Clarity around how to apply for a PPP loan and the terms of repayment would be useful for all companies trying to get a loan.
As many as 3.2 million jobs were added by the federal Paycheck Protection Program, but the long-term effect is unknown.
They’ve been processing PPP loans, and also simply helping clients navigate a tough financial climate.
When impulse buys dropped, Gelateria Uli’s owner had to find a new business model to keep the Los Angeles ice creamery afloat.
Most of it went to hiring back furloughed employees — or hiring new ones.