Reported about 1 month ago
During the COVID-19 pandemic, Economic Injury Disaster Loans (EIDL) provided crucial support for small businesses. However, many businesses are now struggling to repay these loans, as highlighted by a Federal Reserve survey showing that companies with outstanding EIDL debt face higher debt levels and increased difficulties in securing additional support. This has hampered their growth, despite many businesses asserting that the loans were essential for their survival during the crisis.
Source: YAHOO