China News Service, May 14 (Xinhua) reported that during the epidemic period, federal loans applied by employers began to be issued one after another. A few days ago, Elaine Pang, a business consultant for the small business plan of the Chinatown Service Center in Los Angeles, said that because many employers apply at the same time, some people have not yet received the subsidy. After the loan of the pay protection plan is received, if the employee does not want to go to work, the loan amount will not be affected, but the employer should leave written evidence.
During the outbreak, the Chinatown Service Center in Los Angeles sought help. Most small businesses have applied for the US Federal Small Business Administration's (SBA) disaster loan, financial injury disaster loan, and compensation protection plan. And Elaine Pang believes that employers applying for the pay protection plan can apply to the bank for non-repayment of loans after 8 weeks, so it has attracted a lot of employers to apply.
Elaine Pang pointed out that during the audit, employers most often encounter "cash flow" issues. According to her understanding, many companies only received money in early May. Healthier companies can support loans, and some companies may not be able to wait for government subsidies if their financial situation is not healthy.
On the other hand, many companies apply for government loans at the same time, so that the workload of banks and the federal government has skyrocketed, so some companies have not yet received money. A client wanted to apply for a salary protection plan at the end of April, but the big bank told him that there are more than 100,000 applications that still need to be processed.
Elaine Pang believes that the US Federal Small Business Administration has worked hard to process a large number of applications. "The US Federal Small Business Administration usually handles loans by banks, and does not make loans on its own, but it is also recruiting temporary full-time jobs. The recruitment targets are loan specialists and newly graduated law graduates. Therefore, I believe they Try to invite someone to process the application case. "
Employers who receive loans from the pay protection plan also have new concerns. Some employees may be reluctant to go to work, and employers worry about affecting the loan amount. Elaine Pang said the loan amount will not be affected. However, if the employee refuses to re-employ the employer, the employee's unemployment security will be affected. Therefore, it is recommended that the employer have documentary evidence that the employee refuses to accept re-employment.
Los Angeles County also provides a small business subsidy program, but the amount is small and must be repaid. In addition, different cities received various grants from the US Department of Housing and Urban Development. For example, the city of Arcadia launched a small business subsidy program, the application period is from May 11 to May 20, the city will randomly draw out successful applicants by lottery; El Monte has provided a $ 10,000 funding program earlier , Help local businesses, etc. (Li Qingwei)