It’s been 11 weeks since Congress passed the CARES Act, which, among its many other provisions, established the Paycheck Protection Program (PPP). Nearly three-quarters of U.S. small businesses have so far availed themselves of this program. But it turns out that fewer small businesses got a PPP…
The government’s plan for saving small and medium-sized businesses from liquidation puts them in a bind that brings to mind the one Yossarian had to contend with. The problem, in a nutshell, is this: Chapter 11 bankruptcy may be many firms’ best hope for surviving the present…
This question has gained new urgency as the federal government scrambles to bring emergency funding to millions of small businesses across the country under the Paycheck Protection Program (PPP). The PPP consists of forgivable loans that borrowers may use to cover employee payroll, rent, and utilities for…