Small Business

The Grammy-nominated artist is among those who have helped support COVID-19 small business relief in their Pay It Forward series.

Small businesses could soon be shuttering their doors as the result of the coronavirus pandemic, concerning entrepreneurs who are part of the fabric of our country.

E-Tran, the Small Business Administration's electronic system used to help process applications for government-backed aid, has suffered glitches amid the first wave of applicants.

Many small businesses are trying to navigate through the COVID-19 pandemic, some forced to lay off workers, shutter their doors, with no luck getting federal assistance. But financial experts say there are some ways to keep the cash coming in even if you’re not getting a lifeline from the government. 

Ruth’s Chris Steakhouse owner, Ruth’s Hospitality Group, announced Thursday that it is repaying $20 million in coronavirus aid received under the Paycheck Protection Program after the Treasury Department asked publicly traded companies to return the funds meant for small businesses.

Passage was swift and unanimous, according to the Associated Press.

Bank officials have reportedly warned that the $450 billion package to replenish the earlier small business emergency fund will likely run out of money in just a few days.