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How a hostel owner secured a loan to open a second location businessinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com Daily Mail and Mail on Sunday newspapers.
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About a third of eligble businesses that have applied PPP haven t heard if they ve been approved.
Lenders outside of the SBA are being very cautious about approving loans as demand surges.
The bottleneck means small businesses must find ways to extend their cash, operate leanly, and cut costs.
Entrepreneurs who are struggling to keep their businesses afloat amid the pandemic have yet another challenge to face.
About a third of small businesses that are eligible for the Small Business Administration s Paycheck Protection Program and have applied for the new round haven t heard if they ve been approved, according to a newly-released survey of more than 1,100 US-based small businesses by HR software firm Gusto.