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not every small business is set up as an LLC, although I'd imagine most restaurants are. sometimes you just can't get the loans you need as an LLC; the lenders
by leetcrew 7y ago
not every small business is set up as an LLC, although I'd imagine most restaurants are. sometimes you just can't get the loans you need as an LLC; the lenders want an actual person to go after if the business goes under. if I were running a business under a sole proprietorship, I would have to think pretty hard about whether to take the loan or just cut my losses and move on.
I do feel it's generally inappropriate for the government to just give money to a privately owned business, but this is an extreme case where businesses are going under as a direct result of actions taken by the government (reasonable as they may be). not sure where I stand on this one.