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PPP pandemic relief for small businesses is beset by confusion and dashed hopes

PPP pandemic relief for small businesses is beset by confusion and dashed hopes
Don Lee
© Provided by The LA Times
Tiny businesses like those at the Paramount Swap Meet have struggled to survive over the past year. (Kent Nishimura / Los Angeles Times)
The federal government’s massive Payroll Protection Program, which has been a lifeline for small businesses hit by the pandemic, has become so mired in confusion and delays as money runs out that hundreds of thousands of applicants may get no help, especially in underserved minority communities.
During the first months after President Biden took office, his administration far exceeded its predecessor in channeling funds to vulnerable companies. But in recent weeks, as the program s May 31 expiration date draws near, the agency responsible for it has been overwhelmed, and lenders can’t even be sure how much money is still available for loans. ....

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Learn to use relief money wisely: Here's how to save, invest and avoid scams

Almost exactly 11 years ago, at the White House signing ceremony for the Affordable Care Act, as then-Vice President Joe Biden was introducing President Obama, he famously whispered “This is a big f deal!” a comment caught on microphone as Obama stepped to the podium. ....

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This Ride-Hailing Platform Wants to be Better for Everyone, Starting with Drivers

It’s not necessarily because of low barriers to entry. In fact, over the past decade the barriers became unbelievably high, as policymakers and predatory lenders spent years artificially inflating the price of a taxi cab medallion the city permit required to own a yellow cab pushing many taxi drivers into spiraling debts that have led to multiple taxi drivers committing suicide.
But despite all that, the barriers are even more prohibitive in many other sectors, pushing immigrants into situations where they become vulnerable to all manner of exploitation, be it taxi medallion debt to ride hailing platform companies taking 25-30 percent of their revenues. ....

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