Small Business

Getty Images Millennials have been dealt two very bad economic hands during their lifetimes. First, they weathered the 2008 financial crisis brought about by reckless risk-taking in the financial sector. Now, they confront a much more severe economic calamity caused not by Wall Street’s misbehavior but by a malicious virus. Yet in both situations, the

CNBC’s Jim Cramer on Monday criticized the launch of the small business loan program passed by Congress last month, arguing delays are heaping more burden on business owners. “How many weeks do I have to front everybody?” Cramer said on “Squawk on the Street.”  Cramer owns two restaurants in Brooklyn. While saying he’s fortunate enough

A normally busy Main Street is deserted as the small businesses that line the business district remain closed after the governor instituted a shelter-in-place order in an attempt to curtail the spread of the coronavirus (COVID-19) on March 24, 2020 in Rockton, Illinois. Scott Olson | Getty Images Small businesses have applied for more than

Brandon Colbert Photography As markets careen in response to a near-unprecedented public health crisis that’s brought the U.S. economy to it knees, financial advisors are often the first place worried investors are turning — perhaps after favorite news outlets — for advice, information and solace. While calming clients and working with them to shore up

Cafe Meow Parlour in New York City. Sarah Whitten | CNBC Nestled in the Lower East Side of Manhattan is a shop with a unique table in the window. A simple wood ledge is balanced on four big white letters that spell out the word “MEOW.” On a typical day, New Yorkers walking the streets

“When we got the order we were non-essential, that was the day we cleared house,” said Suzanna Cameron, 30, the owner of Stems, a flower shop in Brooklyn, New York. After her store was forced to close in response to the coronavirus pandemic, the single mom said she tried to pivot with virtual flower arranging

U.S. President Donald Trump signs H.R. 748, the CARES Act in the Oval Office of the White House on March 27, 2020 in Washington, DC. Erin Schaff | Getty Images  Jesse Norris, 50, normally spends his time flying around the globe to do process auditing for aerospace industry clients at his one-man business, Norris Consulting.

Jetta Productions | Iconica | Getty Images As the economy craters, small businesses are among the hardest hit. When unemployment claims began to jump nationwide in March, layoffs among small business spiked 1,021% compared to the month before, according to exclusive data compiled by human resource provider Gusto, based on more than 100,000 small businesses nationwide.

Some small business owners waiting for a lifeline in the form of Paycheck Protection Loans under the $2.2 trillion stimulus package have held out hope that a second and smaller form of aid might keep them afloat in the meantime. But as demand spikes for federal funds, new guidance and stalled payouts from the Small

Pedestrians walk past closed shops along Lexington Avenue amid the coronavirus pandemic on April 7, 2020 in New York City. John Lamparski | Getty Images We are living in unprecedented times as our nation, and the world, grapples with an invisible enemy. The Coronavirus (COVID-19) outbreak has impacted virtually every community and institution. Still, for

CNBC’s Jim Cramer on Thursday praised the Federal Reserve‘s latest moves to help keep afloat a U.S. economy that’s been battered by the coronavirus pandemic. Before the stock market opened, the Federal unveiled details of its much-anticipated Main Street lending program and other initiatives, a total of $2.3 trillion in loans to help businesses and municipalities.

There are now about 20,000 shops on Etsy selling face masks, CEO Josh Silverman told CNBC on Wednesday.  “Our sellers are able to produce hundreds of thousands of masks per day,” Silverman said on “Closing Bell.” Etsy began to see “overwhelming demand” for masks from shoppers last week after the Centers for Disease Control and Prevention began

Steven Mnuchin, U.S. Treasury secretary, right, speaks beside U.S. President Donald Trump during a Coronavirus Task Force news conference in the briefing room of the White House in Washington, D.C., U.S., on Tuesday, March 17, 2020. Kevin Dietsch | Bloomberg | Getty Images Banks are scrambling to process a growing backlog of applications for the

Weddings are largely considered recession-proof.  From flowers to photography, celebrations of marriage are a $74 billion industry, according to market research firm IBISWorld. Even as more millennials delay marriage, those who do decide to tie the knot are spending more on their big day. Until now. Amid a global pandemic, tens of thousands of couples have

Andrew Harrer | Bloomberg | Getty Images In the 11 weeks since the novel coronavirus first made its way to the U.S., Americans have been forced to conform to sweeping changes as schools and businesses made the move to shut down and governments enforced lockdowns, stating individuals must be confined to their homes to stop

Steven Mnuchin, U.S. Treasury secretary, speaks during a Coronavirus Task Force news conference at the White House in Washington, D.C., U.S., on Thursday, April 2, 2020. Kevin Dietsch | Bloomberg | Getty Images Small businesses are clamoring for funds from a new forgivable loan program to combat the economic toll of the coronavirus pandemic. But

A Monopoly club at a library is used to teach financial literacy to teenagers. ASTRID RIECKEN | The Washington Post | Getty Images Americans are still receiving a failing grade at personal finance, according to the latest results from an annual study. And it could not come at a worse time, with the coronavirus pandemic

Jen Morrow is eagerly awaiting an update from her community bank, Sandy Spring, on a $30,000 loan request for her book store, Bards Alley, in Vienna, Virginia. Since the start of the coronavirus outbreak, Morrow has gone from 12 employees to a staff of just three, including herself, as her bookstore — typically filled with book

A framing art gallery is closed in Venice Beach, California’ during the COVID-19 novel coronavirus. APU GOMES/AFP via Getty Images Some small-business owners are growing increasingly worried that loan money being distributed as part of the coronavirus relief package will run out before they can access funds. The Paycheck Protection Program, which is being overseen

People use a Bank of America automated teller machine in Washington. Nicholas Kamm | AFP | Getty Images Bank of America said Monday that it’s seen fierce demand for emergency rescue loans with current applications already accounting for nearly 10% of the entire amount allocated by Congress. The bank confirmed that it has received applications