The market research firm received Paycheck Protection Program money that kept it going. (Allen J. Schaben /Los Angeles Times)The process was excruciating for small businesses, said Holly Wade, executive director of the National Federation of Independent Business Research Center. “Many small businesses are financially fragile and not equipped to weather a prolonged period of substantially reduced revenues,” Hamilton wrote, proposing sharply expanded refundable tax credits for small businesses. “If it wasn’t for the PPP loan money, I wouldn’t be in business right now,” he said. The PPP money turned out to be the financial cushion that gave him time to switch to clients who were doing well in the new coronavirus economy.

Source: Los Angeles Times January 25, 2021 13:02 UTC