Heard on the Street: Coronavirus and Small Business

By March 16, 2020 March 17th, 2020 Heard on the Street

Heard on the Street – here’s what we were reading last week:

Small Businesses Impacted by Coronavirus to Receive Up to $2 Million in Loans from the SBA: The SBA Economic Injury Disaster Loans support small businesses to help overcome the temporary loss of revenue they are experiencing as well as working capital. The loans can be used to pay debts, including payroll, accounts payable, and other bills that can’t be paid because of the outbreak’s impact.

Coronavirus Sick-Leave Bill Raises Concern Over Small Business Burden: White House officials sought to allay concerns among some Republicans and business groups that a bill to provide paid sick leave to workers affected by the coronavirus would pose an undue burden on small employers.

Emergency CDFI, CDRLF funding needed to combat economic impact of coronavirus: CUNA wrote to House and Senate appropriations leaders Wednesday requesting emergency legislation to combat the effects of the coronavirus emergency on the ability of small businesses and individuals to access credit and basic financial services during this time of uncertainty.

The Other Problematic Outbreak: Wherever a pandemic goes, xenophobia is never far behind. Since the outbreak of the coronavirus (and the disease it causes, COVID-19) began, reports of racism toward East Asian communities have grown apace.