Questions remain as the Small Business Administration ran out of funding for the Payroll Protection Program on April 16. The fund started with $349 billion, which was quickly loaned out to businesses across the nation — but not to everyone at the same time. Independent contractors and self-employed people were able to apply for the Read More →
Hundreds of weddings in the Tri-Counties have been canceled or postponed since governmental orders forbade people from gathering in groups to prevent the spread of COVID-19. The ban cratered the industry on the Central Coast, which saw weekends in half of March, all of April and now parts of May become untenable. “It’s devastating to Read More →
Several tri-county airports received federal funding through the Coronavirus Aid, Relief, and Economic Security Act Airport Grant Program as they faced steep declines in ridership. Of the three largest airports, San Luis Obispo County Regional Airport received the most —$20 million. Santa Barbara Municipal Airport got $9.6 million, and Santa Maria Public Airport, which lost Read More →
A new report from the Center for Economic Research & Forecasting at California Lutheran University underscores the ferocity of the debate around re-opening the economy. CERF forecasters Matthew Fienup and Dan Hamilton now project a stunning, nearly 20 percent drop in GDP and Great Depression levels of job losses, followed by a long, slow U-shaped Read More →
By Amy Steinfeld and Alina Werth As a result of Gov. Gavin Newsom’s stay-at-home executive order, all but “essential” businesses have closed to slow the spread of the novel coronavirus. Cannabis dispensaries are one of a few retail operations deemed essential, along with pharmacies and grocery stores. And it’s not just dispensaries that have been Read More →
Last-minute rules changes and a messy rollout mean small businesses and nonprofits will have to wait a little longer to get the help they’ve been promised under the CARES Act. The $349 billion Payroll Protection Program, a key part of the act, went live on April 3, but few banks were in a place where Read More →
This does not feel like a team effort. I’m stepping out of my role as pundit this week and putting on my hat as a small business owner. And I am here to state that the rollout of the Paycheck Protection Program has been a nightmare for many small business owners. Every day I get Read More →