Missing out on the US small business rescue
The Story of Money
Manuela Saragosa
4.4 • 400 Ratings
🗓️ 28 April 2020
⏱️ 22 minutes
🧾️ Download transcript
Summary
The Trump administration’s small business bailout programme has been plagued by problems from the start, with complaints that large companies crowded out the kinds of small enterprises and independent contractors it was designed to help. With a fresh round of funding on offer from Washington, we hear from several business owners trying to get their share, as well as the FT’s Laura Noonan who has been reporting on the programme since it launched.
To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/behindthemoneycovid.
A few stories for further reading:
US small business rescue fund strained by rush of claims
https://www.ft.com/content/0467d0e1-6814-4cc4-ad4b-e25c80169466
Can Congress save US small businesses? FT reporters answer your questions
https://www.ft.com/content/55b0f191-5ea2-4762-bf8c-13d6a11e61ed
‘Where is my loan?’ Small businesses miss out on US rescue funds
https://www.ft.com/content/e6a06f94-5d2f-43a0-8aac-c7adddca0b0e
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Transcript
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| 0:00.0 | Am I missing anything? Is this the right decision? |
| 0:02.0 | Can I show this data? |
| 0:04.0 | Am I too late? |
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| 0:08.0 | Manage your portfolio for sustainable growth |
| 0:11.0 | and regulatory alignment |
| 0:12.0 | with the ultimate blend of powerful AI and |
| 0:14.6 | industry expertise. |
| 0:16.5 | Reduce risk, meet your sustainability goals and push the boundaries of possibilities based on |
| 0:21.1 | facts, not opinions. |
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| 0:26.6 | Visit clarity. |
| 0:27.7 | AI and take action today. |
| 0:30.4 | For millions of small business owners across the US, March was an exceptionally tough month |
| 0:35.0 | as they came to terms with prolonged lockdowns getting in the way of operations. |
| 0:39.0 | That's the story we brought you in the last episode. |
| 0:42.0 | But it turns out that April would prove to |
| 0:44.0 | bring an entirely new headache. When we were ordered to close, it just |
| 0:50.3 | devastated sales. I think that the next day our cells were 25% of what they usually were. |
| 0:58.0 | We thought this is the end of us. |
| 0:59.7 | So when this PPP thing came, I was like, oh my gosh, the government is going to help me. |
| 1:07.1 | You know, like I'm the last person that they ever think of. |
... |
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