24% Of Small Businesses 2 Months Away From Permanent Shutdown

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WASHINGTON, DC -- 24 percent of small businesses in the U.S. say they'll be out of business within two months because of the coronavirus pandemic.

A new poll by the U.S. Chamber of Commerce and MetLife out today finds 11 percent of small businesses say they'll shut down within a month.

Now, 24 percent say they're already closed temporarily and 54 percent are likely to close temporarily in the next two weeks.

Most of the businesses surveyed say direct cash payments to Americans would be the most helpful aid in the stimulus package enacted last week. They also are looking for loans and financial aid from the federal government.

To complicate the matter, small venture capital firms are seeking to be included in forgiveness loans that would be allocated for small businesses.

Jen Richer speaks with 104.7 WONK FM's National Correspondant Michael Bower on what that would mean for small businesses.

Listen to the full interview here:

Jen Richer with Michael Bower

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