Why the small business loan program is falling apart at the worst time [CNN]
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Source: CNN
Why the small business loan program is falling apart at the worst timeByPhil MattinglyLauren FoxUpdated 9:22 AM ET, Fri April 17, 2020Chat with us in Facebook Messenger. Find out what's happening in the world as it unfolds.Replay ...MT WATCH03:21Washington (CNN)program that wasn't nearly big enough to start withWashington dysfunction and distrust are coming at the absolute worst time for small business owners that desperately need support.Bottom lineThe backbone program of the $2 trillion stimulus designed to keep workers employed has been shuttered after less than two weeks. Tens of thousands of businesses did not get access to the program before it ran dry. Those businesses, many of them teetering on the brink of failure, currently have no clear pathway to survival at the moment.Put this into perspectiveRead The purpose of the $349 billion Paycheck Protection Program was essentially to float payroll for millions of small businesses for a couple of months. The loan program transform
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