Small-Business Loan Program Is A Short Term Fix: Howard Schultz Weighs In – Steve Forbes
Steve Forbes on how the small business loan program falls drastically short of what's needed to save ailing businesses and why trillions of loan dollars are critical to avoiding a tsunami of closures that will cripple our economy.
What's Ahead featuring Steve Forbes provides his insights and perspective, to stay on top of what's happening in this ever-turbulent world with glimpses into the future.
On Thursday morning, the $349 billion emergency small business lending program officially tapped out. The Small Business Association officially ran out of money for the Paycheck Protection Program, according to a message for lenders posted on the administration's website.
Negotiations on Capitol Hill have yet to generate a path forward to replenish the money, all as the US economy continues to stagger under the pressure of near-nationwide closures. The federal government is launching a $349 billion dollar small business loan program Friday, but hours before the program was set to go into effect some of the country's biggest banks weren't ready. Yahoo Finance reporter Sibile Marcellus spoke to CBSN's Reena Ninan about who could be seeing money from the initiative. Small business loan numbers continue to increase as part of the government's coronavirus relief. FOX Business' Edward Lawrence with more. President Trump says small business owners should receive SBA loans by the end of the week. #FoxBusiness