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Some small US businesses get $1 relief loans

Some small US businesses get $1 relief loans

The large-scale state program of financial aid to the US business was widely covered in the press. The sums of payments were really impressive. In fact, everything turned out to be a little different. 

A wage subsidy is the key point of the stimulus package. Local and federal authorities gave people big promises. However, most small US companies and individual entrepreneurs became bitterly disappointed as they had expected easy money.  In fact, most of them received the aid of just $1. “I was so flabbergasted, I sent it right back,” said Jeff Ostashen, a self-employed trucker in Lakeland, Fla. “It felt like a slap in the face.”

After numerous promises, it seemed that such payments were made by mistake. However, everyone received the right sum. Notably, some entrepreneurs were luckier than others. For example, Judith Less, who runs a thrift shop in New Jersey, got $27. 

In total, the government allocated $523 billion in the form of loans for 5 million companies. The current situation proves that knee-jerk decisions may lead to absurd results.

 


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