Giving Small Businesses a Voice During COVID-19
YOUNGSTOWN, Ohio — Many small businesses, particularly those with 10 or fewer employees, are at an extreme disadvantage with the ability to receive federal assistance during the coronavirus pandemic.
Not only has the Small Business Administration run out of money (Congress is expected to appropriate $250 billion more), many of those that did apply were passed over. Indeed, while it’s been reported that some huge hedge funds received million dollar forgivable “loans,” the paperwork required to apply for the relief is extensive and demands professional accounting support.
Some of those who were approved are still waiting for their checks. Still, others opted not to apply for fear of digging a financial hole by taking out a loan they would have to pay back with interest.
Was your business passed over? Was your business in a position to even apply for the federal money? Is your business going to survive the pandemic shutdown?
The Business Journal has heard from a few of these business owners and is making a call for others to share their story. Send us a message through our social media channels or by submitting your story here and a reporter will be in touch with you.
Copyright 2022 The Business Journal, Youngstown, Ohio.