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While everyone (biz or not) should have an emergency fund, this is not always possible. For example, restaurants - they already operate on razor thin margins, c
by justaguyhere 6y ago
While everyone (biz or not) should have an emergency fund, this is not always possible. For example, restaurants - they already operate on razor thin margins, creating a 6 month emergency fund might not be that easy.
Plus, this virus is likely going to last more than six months - even if some businesses did have 6 month savings, what happens after?
- chroem- 6y agoNone of those small, low-profit businesses are receiving benefit from this Federal reserve money.
- harryh 6y agoWhere do you think the money for PPP loans is coming from?
- chroem- 6y agoThe money may be coming from the Fed, but very little of it is going to small businesses. [1] What's more, PPP makes up a tiny fraction of the Fed's current coronavirus response. [1] https://www.nytimes.com./2020/04/26/business/coronavirus-small-business-loans-large-companies.html https://www.nytimes.com./2020/04/26/business/coronavirus-sma...