As soon as New York officials began detailing their response to the coronavirus, Matt Preis knew his staff might be in trouble.
FILE PHOTO: A person in a mask walks on a nearly empty street in the coronavirus outbreak near the Treasury Department in Washington, U.S. March 30, 2020. REUTERS/Jonathan Ernst
Like many other small-business owners who spoke to Reuters, Preis is hoping new government programs might keep him afloat. “I don’t know what the future holds for many small companies, which include our mom-and-pop dog-walking operation,” Preis said. The program is retroactive from Feb. 15 so employers who laid off workers can re-hire them through June 30, according to guidance provided by the Treasury Department on Tuesday. It appears to offer broad coverage, including for self-employed individuals, independent contractors, non-profits, military-veteran organizations and tribal groups.
Kelly Klein, CEO of Groennfell Meadery in Saint Albans, Vermont, whose business has basically shut down said she has not gotten clear information about the federal loan program, despite reading information online and talking to her banker.“Without something we wouldn’t be able to keep our employees,” she said. “ My biggest goal is to keep them and of course make sure there’s a business for them to come back and work for.”The SBA is sure to be overwhelmed.
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