Heard on the Street – here’s what we were reading last week:
‘Please, I Don’t Have Insurance’: Businesses Plead With Protesters: Businesses ranging from national chain stores to neighborhood pizza shops have been damaged in the wake of George Floyd’s death. Stunned store owners were still assessing their losses.
SBA Excludes Small Business Owners With Criminal Records From Relief Loans: Signed in late March as part of the sweeping CARES Act, Congress has so far authorized more than $650 billion for the program, which is being implemented by the SBA. Unfortunately, the SBA has crafted several “interim final rules” that unfairly deny loans to countless entrepreneurs.
Few takers expected for the Fed’s new $600 billion business loan program: Billions of dollars in low-interest loans for companies hurt by the coronavirus are supposed to start flowing this week, but for the first time this year executives are not lining up to take advantage of a government-funded relief program.
This Is How Hard It Is to Invest in Black Neighborhoods: Community development for places that have been ravaged by racism calls for multiple investments in people and places at a scale that can truly make an impact.