Small companies are getting a possible lifeline from Congress.
The huge $2 trillion financial rescue bundle — anticipated to get last approval from Congress on Friday — contains provisions aimed toward serving to smaller employers climate the financial storm introduced on by the coronavirus pandemic.
“We’re cautiously optimistic that this can present the money movement that small companies wanted yesterday,” stated Kevin Kuhlman, senior director of federal authorities relations on the Nationwide Federation of Unbiased Enterprise. “However we’re fearful it could be too little too late.”
An area enterprise is closed till the state sanctioned three weeks “keep at dwelling” order is lifted in Detroit, Michigan March 24, 2020.
Seth Herald | AFP | Getty Pictures
As companies throughout the nation shut down amid efforts to include the unfold of coronavirus, some have confronted steep drops in income, together with worker layoffs, as they battle to remain afloat. There are roughly 31 million small companies that make use of 59…