EMPTY LOAN POT FOR SMALL BUSINESSES
Small Business Relief is Siphoned
as Big Businesses get millions
Huge chain restaurants have siphoned all the 'small' business money from the PPP (paycheck protection plan) Loan 'pot'. Many hand claps have been given to Shake Shack who returned the money they received, approximately 10 million dollars when they are sitting on upwards of $100 MILLION CASH. How does the government spend all its resources that were for small businesses on lining the big businesses during this pandemic? Well, Shake Shack sent that money back- they have a great PR person. Other businesses have kept their funds, draining the $349 Billion Stimulus for true Small Businesses.
Small businesses specifically asked how the money would flow into the small businesses. Officials nationwide vowed that it would happen and would not be going to big business. This did not happen. Small businesses are closing claiming bankruptcy while others line their pockets with emergency funds, not ‘right now’ funds so many others actually need.
One small business owner explained, "I won't accept this risk again, I am going to start my business online. There is no 'resource fund', to me, for the small businesses that can ever be trusted if controlled by big bankers. I was told ‘no’ by Security Service Credit Union, Bank of America, and I tried Randolph Credit Union but even the employees were unsure how this all was supposed to work, I got declined with no reason, just a letter in the mail.”
Our new normal is starting to show itself. The next 'new thing' is showing itself- 'Lean Operation' in business will be a must going forward for small businesses who fight to make it out of this shutdown. Government is hardly governing and businesses and families are out of money and told to go through vast measures to 'qualify' for emergency funds. If the emergency funds ever do reach the real small businesses it may be too late.
What do we do? Keep applying, keep calling. Our new job is to call, email, and apply for every resource that is available right now. Small businesses must fight to stay in business, a lot harder than before, and that is a reality.
Our next job is to not patron big businesses with big money. They took that from you, and unlike Shake Shack, they opted to keep it. When we are all allowed to patron businesses again safely, ask yourself- did that store remember their community during the hard times?