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U.S. PPP to Aid Small Businesses

The U.S. government’s aid program ($284 billion) for small businesses and the neediest is open this Monday. As stated by the Small Business Administration (SBA), a third round of PPP (Paycheck Protection Program) will start over this week, with a priority of small business companies. This time around, the SBA will hopefully pay more attention to minor firms as well as women-run businesses, which were neglected first time. The aid program will allow lenders to give out loans, and as long as the money is spent on things like rent and payroll, they can be overlooked. The new program will avoid financial abuse and fraud. Samira H.
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By Samira Hassanzadeh on October 19, 2021

Time Seems to Be Up for Small Business Proprietors!

According to NFIB, the National Federation of Independent Business, if the financial status doesn’t recover in the upcoming 6 months,  one in five small businesses might unwillingly resort to shut their shops. Nydia Velazquez, the House Small Business Committee Chairwoman, declared last month that nearly 110,000 small businesses closed down. While another 7.5 million seem to struggle with the same issue. With many using up their Paycheck Protection Program loans, the businesses expect a helping hand. There is no good sign of a new stimulus in Washington and the Main Street’s situation is worsening. The post-pandemic era has wracked up many businesses. The announcement by NFIB comes when experts and policy makers, who have long been negotiating, have two ways ahead:  to grant a stimulus package or fund small businesses. Samira H.
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By Samira Hassanzadeh on October 19, 2021

Main Street's Small Businesses Financial Issues

Small businesses have had to struggle for over a year in the wake of the pandemic; with closing and reopening orders, they have been confused. A recent report by CNBC|SurveyMonkey's Small Business Survey shows there has been uncertainty in Main Street businesses condition. Even though more than half of the small businesses have been open during the pandemic, 20% were closed for a short period and then reopened. 10% are still shut down and the remaining 4% have closed, reopened, and closed down another time. This has confused the owners, who have supported the $1.9 trillion relief aid by Joe Biden. He will help them through grants and funds as they probably need financial support once the PPP ends in March. According to the administration, the PPP’s aid won’t be exhausted, something which happened in April 2020. Samira H.
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By Samira Hassanzadeh on October 19, 2021

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