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Stock impact report

Small businesses struggling to get coronavirus relief loans from big banks, here's why [Yahoo! Finance News]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Get all the latest news on coronavirus and more delivered daily to your inbox.Sign up hereOne week into the rollout of theThe $2.2 trillion CARES Act passed at the end of March established the $349 billion Paycheck Protection Program, which is designed to get cash in the hands of small businesses devastated by the coronavirus pandemic and incentivize them to keep staff on payroll, or rehire workers who have already been laid off.As of April 3, small business owners could apply for funding, and independent contractors on Friday. The program opened to self-employed individuals on April 10. But many owners have run into problems obtaining the loans: According to astudy released by an industry trade groupWHAT APPLICANTS NEED TO KNOW ABOUT THE SMALL BUSINESS LOAN PROGRAM"Some of the big banks that had no problem in taking billions of dollars of free money as bailout in 2008 are now the biggest banks that are resistant to helping small businesses so that should tell you something," Joseph A Show less Read more
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