Small U.S. businesses hope second time's the charm for emergency aid [Reuters]
First Midwest Bancorp, Inc. (FMBI)
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Source: Reuters
Small U.S. businesses hope second time's the charm for emergency aid April 28 (Reuters) - Cheryl Wellman is one of thousands of small business owners anxious to see if she’ll get a slice of the $310 billion in new emergency aid that was just released by Washington. “After what happened last time, I’m not holding my breath,” said Wellman, president of Integrity Manufacturing Inc in Romeoville, Illinois, a metal-stamping company devastated by the economic slump caused by the coronavirus pandemic. The U.S. government’s “Payroll Protection Program” to aid small businesses, part of an economic relief package passed by Congress that is now approaching $3 trillion, opened chaotically earlier this month and ran out of funds in less than two weeks. The Small Business Administration began processing applications for the second tranche of aid on Monday, a process that was once again beset by problems. A new survey by the Association of Equipment Manufacturers, which represents off-road equipment
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