Small-business owners who borrowed from the federal Paycheck Protection Program program can now apply for loan forgiveness.Getting the balances erased may be easier said than done.The PPP loan, which was established by the CARES Act, is intended to cover up to eight weeks of wages, mortgage interest and...
For small businesses struggling to survive during the coronavirus crisis, bankruptcy may end up beckoning.While overall filings were down in April, the number of businesses that filed Chapter 11 bankruptcy — which involves reorganizing debt and remaining in operation — jumped 26% from a year earlier. And according...
PuroClean restoration specialists do deep Covid-19 cleaning for the Barlett Fire department in Tennessee. Steve White, the company's president and COO, instituted protocols from day one to ensure business operations continue in case of any unforeseen disaster, something he learned as a former U.S. Army infantry officer.PuroCleanIf you...
Self-employed people who borrowed from the Paycheck Protection Program may have a tough time getting the full balance forgiven.The PPP is a federal forgivable loan program that was established by the CARES Act. It's intended to cover up to eight weeks of wages, mortgage interest and other expenses...
New Jersey restaurant owner Chris Clayton told CNBC on Friday that giving businesses the green light to reopen during the coronavirus pandemic does not guarantee their survival. "Open is a four-letter word," Clayton said on "Squawk Alley." "Just being open doesn't mean that you're not going to go under. You need...
Navigating the economic fallout from the coronavirus pandemic has not been easy for small businesses. Fashion designer Rebecca Minkoff is no exception."It's the longest, most exhausting days of my life," said Minkoff, 39, and the co-founder and creative director of her own fashion line. "I want to scream a...
Workers are back on the job at the the construction site of new towers near Government Center in downtown Boston on May 19, 2020. As the state economy cautiously begins to reopen, construction projects resume. (Photo by Lane Turner/The Boston Globe via Getty Images)Boston GlobeAnother round of...
Tracy Singleton, owner of Birchwood Café in Minneapolis, Minnesota, remains cautious about reopening. "I don't feel safe having people walk into my environment yet," she says.Tracy SingletonLike many small business owners, Edgar Comellas, owner of Aces Wild Entertainment in Florida, has seen business grind to a halt since...
CNBC's Jim Cramer said Wednesday that governments forcing some retailers to close and others to stay open was "somewhat rigged" and has permanently damaged smaller businesses. "If you were Walmart, the thing you would most want to do is have the government shut down your competition, and that happened,"...
The coronavirus pandemic caused an unprecedented jump in job losses, but the worst may be over, at least for now.After spiking more than 1,000% in March, layoffs among small business leveled off last month, according to exclusive data compiled by human resource provider Gusto and based on more than 100,000...