Ostensibly, the agency can reduce each grant proportionally to ensure all applicants get at least a sliver of what they asked for, but the money is expected to run out quickly. Several small-business owners who spoke with CQ Roll Call would qualify for aid under the House bill but not the Senate version.
Thomas traded in a $100,000 life insurance policy he’d been making payments on for 30 years for $19,000, cut cable and other personal expenses and took advantage of forbearance on his mortgage and other personal debt so he could keep the business running. Kirby got some help from the Paycheck Protection Program, enacted in early 2020 to back forgivable loans so small businesses could keep employees on payroll. But the vast majority of assisted living facilities did not qualify for PPP loans, Elehwany said. He added that 99 percent of companies in Germany are small and medium-sized … Read More