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U.S. Small Businesses Face Mass Closures Without More Pandemic Aid-Reuters

After surviving two strokes at age 27, Olivia Colt threw herself into starting a catering business, a lifelong dream. Now with the coronavirus pandemic forcing cancellations of her customers’ weddings and events, she has slashed her staff from 25 to six and tried to drum up new business by selling groceries online. She secured a $100,000 forgivable loan under the U.S. Paycheck Protection Program (PPP) and another $150,000 loan under a federal program usually used for natural disasters. She expected the money to get her through just a few months of hardship. But the hardships are dragging on. Reuters, 07/29/2020

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