Small business loans from SBA may not come fast enough
The Small Business Administration began offering forgivable loans to small businesses impacted by the coronavirus pandemic a week ago. But, some desperate companies say the promised relief is not coming fast enough.
Evan Obsatz, whose family has run Butterfield Market, a New York City grocery and catering company, for 45 years, said business has slowed substantially during the coronavirus crisis.
"We had 2,000 customers a day walking in," Obsatz told CBS News chief investigative correspondent Jim Axelrod. "Now we're averaging just a couple hundred."
Obsatz said he can "realistically" stay afloat for a few more weeks. "We're still an essential business, but our funds are running low," he said.
https://www.msn.com/en-us/money/smallbusiness/small-business-loans-from-sba-may-not-come-fast-enough/ar-BB12rB5C?li=BBnbfcN
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