Small Business

Lawmakers must put politics to the side and agree on a plan to expand the small business rescue loan program by Monday, U.S. Chamber of Commerce CEO Tom Donohue told CNBC on Friday. “We all understand it. We’re coming up on an election,” he said on “Closing Bell.” “If they don’t, nobody’s going to get

With rooms sitting empty, smaller hotel operators are weighing options to defer debt payments and in some cases, close properties. While the pain caused by disruptions from the coronavirus pandemic is being felt across the travel industry, it is particularly acute for the Indian diaspora in the U.S. Nearly 50% of U.S. hotels are owned

Robert Herjavec said his role as an investor on ”Shark Tank” makes him optimistic about the U.S. economy on the other side of the coronavirus pandemic.  “The human condition is about hope,” Herjavec said Thursday on CNBC’s “Squawk Alley.” “Every time someone comes on ‘Shark Tank,’ they’re full of hope and they’re full of optimism.” “This is a

Rep. Greg Murphy, R-N.C., said Thursday he believes there are ways for businesses such as barbershops and salons to reopen safely during the coronavirus pandemic.  Murphy, a urologist who was elected to Congress in 2019, said on CNBC’s ”The Exchange” that restrictions should remain in place for people who are “most at risk, most susceptible” to

Amazon’s dominance has been solidified during the coronavirus pandemic, but the consequences of that are complicated, CNBC’s Jim Cramer said Thursday.  “Amazon is either the Grim Reaper for everyone or the greatest thing that’s ever happened to the American consumer. Or maybe both,” Cramer said on “Squawk on the Street.”  “Has Amazon not become a country

Larry Sprung, president of Mitlin Financial in Hauppauge, New York, was able to begin the application process with Bank of America when the Paycheck Protection Program opened April 3. Larry Sprung A forgivable loan program meant to help ailing small businesses has met with much criticism amid delays, confusion and frustration. But some small-business owners

Junior’s Cheesecake owner Alan Rosen on Wednesday defended his decision to leave his restaurant employees on furlough despite receiving money from the Treasury Department’s newly created small business loan program.  Rosen told CNBC on Wednesday that he believes keeping the 650 workers on furlough, for the time being, is in the long-term best interest of the business

David Lee, owner of Blue Moon Construction, LLC, in Tampa, Florida. Bibi Sipra A loan program meant to pump fast cash into small businesses has failed on almost all accounts, according to business owners. The Economic Injury Disaster Loan program is among the core financial-relief measures the federal government has pushed to entrepreneurs hobbled by

Andrew Karas founded and co-owns Asbury Park Distilling Co. in New Jersey Andrew Karas When the coronavirus outbreak began shutting down businesses, Andrew Karas had to think fast about how to survive. His business, New Jersey-based Asbury Park Distilling Co., produces spirits and distributes them to restaurants, bars and liquor stores. “It’s tough. The industry

Junior’s Cheesecake owner Alan Rosen said Tuesday that the money the restaurant company has received through the Treasury Department’s small business loan program is not enough to immediately bring workers off furlough.  There is too much uncertainty about when the coronavirus pandemic will subside and when people will be comfortable to “sit shoulder to shoulder in our

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