Lawmakers and government officials are preparing to make significant changes to the Paycheck Protection Program, amid cooling demand for government-backed loans and criticism from business owners who say they can’t tap the funds. The changes are likely to include giving businesses more flexibility to spend the money, according to lawmakers and others following the deliberations.… Continue reading U.S. Expected to Revise Small-Business Aid Program
Tag: restaurant & hotel industry
Large Restaurant and Hotel Chains Can Participate in SBA Paycheck Protection Program
Shake Shack Inc. hardly seems like a small enterprise, with 7,600 employees, about $500 million in annual revenue and net income last year of $24 million. Even so, it plans to apply for a new government-guaranteed small-business loan. The New York-based fast-food chain says it needs the help to get through the new coronavirus pandemic.… Continue reading Large Restaurant and Hotel Chains Can Participate in SBA Paycheck Protection Program