Re:Japan to subsidize 100% of salaries at small companies
by cjlars on Sunday April 26, 2020 @12:24AM
(#22984394)
US included a payroll protection program (PPP) in the CARES act last month, which pays for payroll for small businesses with some forgiveness provisions. The forgiveness terms are very roughly summarized as, "don't lay anyone off and the government will cover 8 weeks of wages for anyone making less than $100k / yr". News this week is that a second round of funding will go out for the program.
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Re:Japan to subsidize 100% of salaries at small companies
by swasheck on Sunday April 26, 2020 @12:52AM
(#22984547)
Anecdotally, 100% of the legitimate small businesses in my area have been denied access to PPP due to lack of availability of funds.
The research of others has shown that the lack of funds is due to big businesses receiving them. Seems to kinda go against the purpose.
Re:Japan to subsidize 100% of salaries at small companies
by underdown on Sunday April 26, 2020 @01:48AM
(#22984851)
Anecdotally I have several friends who run small businesses that received funds. My employer did as well.
Re:Japan to subsidize 100% of salaries at small companies
by swasheck on Tuesday April 28, 2020 @10:00AM
(#23007013)
I’m so glad for them and you. I really hope that’s party of a larger trend. It’s just not a trend here.
Re:Japan to subsidize 100% of salaries at small companies
by manigandham on Sunday April 26, 2020 @12:58AM
(#22984582)
The total funding was barely enough to cover 1 million small businesses, and there are close to 30M in the USA that are affected in some way by this pandemic. The second round of funding was just passed but the pace is too slow.
Most small companies will be bankrupt within 3 months without any cash flow.
Re:Japan to subsidize 100% of salaries at small companies
by throwlaplace on Sunday April 26, 2020 @12:28AM
(#22984418)
too bad much of the money got eaten up by large corps
https://www.forbes.com/sites/eriksherman/2020/04/24/public-c...