Small business owners are pleading for help—but the Payment Protection Program created to help America’s small businesses stay afloat and keep their workers on payroll has been nothing but a fiasco since its launch. https://finance.yahoo.com/news/nightmare-3-small-business-owners-describe-process-of-applying-for-ppp-coronavirus-loans-132110725.html">https://finance.yahoo.com/news/nigh...
The confusing process of applying for PPP puts an extra, unnecessary burden on small business owners. Even if they’re able to apply, some big banks have shut out small businesses from being able to receive these loans altogether. https://www.vox.com/2020/4/7/21209584/paycheck-protection-program-banks-access">https://www.vox.com/2020/4/7/...
Congress needs to act swiftly to fix the problems with this program and eliminate the cap on the total amount of money to keep workers employed. The government should guarantee that every small business that qualifies will get the help they desperately need—full stop.