Sage Ali’s family has been through a lot, seen a lot. His parents, Ben and Virginia, lived through segregation and the strictures of Jim Crow. Much of downtown Washington, D.C. was off-limits to them. The Alis started Ben’s Chili Bowl, a tiny diner that would later serve presidents and celebrities. The restaurant was one of…
CLOSE Here are four ways consumers can help support small businesses who are struggling financially during the coronavirus pandemic. Wochit Two companies in California filed a class-action lawsuit against JPMorgan Chase bank alleging unfair business practices toward some small businesses that applied for coronavirus-related loans under the government’s Paycheck Protection Program. In the suit filed on Sunday, a cybersecurity…
One of the main coronavirus relief fund sources for suffering small businesses hit its $350 billion limit Thursday and is no longer accepting any more lenders or applications, the Small Business Administration announced. “The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding,” SBA spokesperson Jennifer…
The U.S. Capitol is viewed as a kite flies at the National Mall in Washington earlier this month. Both the House and Senate delayed their return to Washington and leaders are now saying Congress is not expected to return before May 4. Jose Luis Magana/AP hide caption toggle caption Jose Luis Magana/AP The U.S. Capitol…
Republican congressional leaders on Saturday vowed to seek another clean funding increase for small businesses after dueling Senate plans were blocked this week, raising doubts over the prospect of bipartisan talks over the next relief package. Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellGOP ads hit vulnerable Senate Democrats over small business funding Matt Taibbi: Why this bailout is…
Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here. CNN was lampooned by critics on Thursday after a headline of its report on Senate Democrats blocking financial relief for small businesses was quickly changed. A $250 billion urgent request to shore up a depleting small business fund failed to pass…
The action was well received by the stock market, which rallied at the news. April 9, 2020, 10:00 PM 5 min read 5 min read Share to FacebookShare to TwitterEmail this article The Federal Reserve has announced a $600 billion lending initiative designed for mid-sized businesses to ensure the easy flow of credit through the…
Tuan Ngo seemed to be at a dead end this weekend as he tried to apply for emergency loans for his nail salon business in Washington state, which has been shuttered since the novel coroanvirus pandemic struck and social distancing measures were implemented to stop the spread. Like so many small-business owners across the country,…
Trump has signaled support for some of the ideas that Democrats back, such as expanded help for small-business owners and new bailout checks for households. Republican leaders, meanwhile, have also called for more corporate aid and money to boost the overwhelmed health-care system. The rushed effort comes as the economy’s fortunes appear tethered to political…
Across the U.S. banking industry, officials scrambled overnight to stand up a massive new government-backed lending program to help small businesses ravaged by the coronavirus pandemic and many were unable to make it happen by the Friday deadline given that the Treasury Department released its guidelines for the loans late Thursday night. The $350 billion…