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Layoffs have already started. More useful than UBI are low interest loans provided by the SBA. If anyone here is being impacted by the downturn there's info he

Layoffs have already started. More useful than UBI are low interest loans provided by the SBA. If anyone here is being impacted by the downturn there's info here: https://www.businessnewsdaily.com/15639-trump-covid-19-sba-loans.html https://www.businessnewsdaily.com/15639-trump-covid-19-sba-l... Congress also really needs to pass legislation for government secured loans for small businesses in particular sectors immediately, then expand it out as needed.

servercobra 7y ago
I don't fully understand how these loans are going to help. If I'm a business owner and all the sudden my revenue drops to 0 or close to it, getting a loan to keep my employees around is still not a great option because I'm going to have to pay it back later. Like the other poster said they were having their employees do maintenance, deep cleaning, etc, but how long can you do that before you have to send people home? And how long can you afford to keep paying them without bringing in revenue? I guess if we're hoping this crisis only lasts a couple of weeks, loans should bridge the gap. And options are never a bad thing!
gregmac 7y ago
Can someone explain the rationale of how this works? I don't get it. Does the small business take a loan (at 3.75%) to continue paying payroll, despite not having any income or any work for the employees to do? Or are all the laid-off hospitality/entertainment industry workers going to go get a loan to start their own businesses (not hospitality-related, obviously)? What am I missing?