PPP Funding Survey of African American Businesses

WASHINGTON - April 23, 2020 - PRLog -- Amid reports that massive restaurant chains and other large businesses received funds intended for small businesses closed by the coronavirus pandemic, Creative Investment Research launched a survey of small businesses actually threatened by the crisis.

"We are hearing reports that struggling small businesses in the nation's hardest-hit regions have not received any funding from the Paycheck Protection Program, intended for businesses with fewer than 500 employees, while hundreds of millions of dollars have gone to corporations that employ thousands, like Ruth's Hospitality Group and Potbelly Corporation," Creative Investment Research CEO WIlliam Michael Cunningham said. "If true, it means that executives whose annual compensation is in the millions circumvented the goal of the program by applying through subsidiaries, depriving legitimate small businesses of the funding they desperately need to survive."

We are conducting a survey on the Paycheck Protection Program and the Economic Injury Disaster Loan Emergency Advance (EIDL) Program. Our survey is intended to reveal the truth about this situation.

The identity of the firms and individuals replying will be kept confidential (we don't even ask for identity, just information on location, industry, etc.)

We will provide a copy of the survey results to all who reply.

The Paycheck Protection Program (PPP) authorizes forgivable loans to. small businesses to pay their employees during the COVID-19 crisis.

The Economic Injury Disaster Loan Emergency Advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.

A recent agreement increases the authorization level for the Paycheck Protection Program from $349 billion to $659 billion, and increases the authorization level for the Emergency Economic Injury Disaster (EIDL) Grants from $10 billion to $20 billion.

Access our survey here: https://www.surveymonkey.com/r/KK5ZGJ8

NOTE: We offer business consultation specifically focused on the needs of businesses during the COVID crisis. See: https://clarity.fm/williamcunningham