A new survey showed that after the initial delay in obtaining funding from a popular government program to mitigate coronaviruses, nearly two-thirds of small business owners who applied for the money happened.
Landlords now say they are very concerned about returning their clients because some states are raising orders to stay home.
Of the 77% who applied for a loan from Paycheck Protection Program, 61% were deposited into their accounts from their lender as of May 1, according to a survey conducted by the National Federation of Independent Business. This has improved a lot from a previous survey, which found that only 20% had received funding as of April 17.
NFIB said: "Small business owners have been waiting impatiently for financial assistance and many have started receiving it."
The previous NFIB survey found that about a quarter of its members were in the filing stage when it implemented its first tranche of $ 349 billion on April 16 after just 13 days. Among those who applied and received no financing, 55% said they had not received confirmation of their loan approval, according to the survey.
The second round of the public-private partnership program, which provides loans of up to $ 10 million to small businesses, to keep workers working during the epidemic, began last week. As of May 1, $ 175.7 billion of the additional $ 320 billion had been processed. SBA guarantees loans that lenders disburse.
A separate survey of small businesses conducted from April 21 to 27 of the American Chamber of Commerce showed that about a third of them reported applying or trying to apply for a public-private partnership loan, with 14% saying they had not received funding yet and 9% of those receiving on him. The survey showed that 13% are still planning to apply.
Among those who requested a public-private partnership loan, 39% said that the first round of financing had been exhausted before approval. The Chamber said that this was the biggest reported problem for those who applied and did not receive the loan.
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