首页最新消息简介摄影画廊读经日引网上资源网上下载网上讨论区联系我们
圣经金句

若不是耶和华建造房屋,建造的人就枉然劳力;若不是耶和华看守城池,看守的人就枉然警醒。
诗篇 127:1



 
圣经查询
圣经查询(新版)
关于我们
目录导览
音乐诗歌点播
文化天地
时事论坛
世界经济
育博通
珠玑集
幽默
News
教育中心
Century Tribune 时代论坛报
山行文化出版社
文艺园地
健康信息
中美友好协会
美国新闻 ( 国际日报 报道)
南粤之窗
Amazing Qingdao
Panda Mania
教会机构专栏精选
网上奉献与支持
故障申告
联系我们
网站维护

设为首页
加入「我的最爱」
浏览流量统计
人数: 2,845,306 
页数: 34,706,584 
下载: 14,163 
Since 11/2005


订阅电子报

订阅电子周报
自订阅名单移除
电邮Email:



  
   

Bookmark and Share   
 
WHAT’S IN THE PIPELINE TO REVIVE ETHNIC SMALL BUSINESSES?
6/1/2020




Photo, Top: Charles Phillips, a director of the Federal Reserve Bank of New York (left); Rep. Ted Lieu, D-California. Bottom: Sumita Batra, CEO, Ziba Beauty Salons (left); venture capitalist Shelly Kapoor Collins, member of California Governor Gavin Newsom’s Entrepreneurship Task Force.

By SUNITA SOHRABJI/EMS Contributing Editor

SAN FRANCISCO — Main Street America, its plethora of largely minority-owned small businesses ravaged by the COVID-19 pandemic, will see opportunities to revive with the help of federal stimulus funding, a May 29 group of panelists concluded.

Speakers at the discussion, organized by Ethnic Media Services, included Rep. Ted Lieu, D-California; businessman and philanthropist Charles Phillips, director of the New York Federal Reserve Bank; venture capitalist Shelly Kapoor Collins, a member of California Governor Gavin Newsom’s Entrepreneurship Task Force; and Sumita Batra, CEO of ZIBA Beauty Salons.

More than 100,000 small businesses have had to shut their doors permanently, according to a study released in April by the National Bureau of Economic Research. Of the businesses it surveyed, 43% have closed temporarily and owners have laid off 40% of their staff.

Six out of 10 small businesses will close by Labor Day if the current environment continues, reports the National Federation of Independent Businesses. In California, 95% of businesses are classified as small businesses.

Congress’ $350 billion stimulus package — approved in April and known as the Paycheck Protection Program — is a loan program to help small businesses survive during the COVID 19 pandemic by providing eight weeks of payroll and some additional funds for operating expenses. The Small Business Administration defines small businesses as those with fewer than 500 employees.

Fourteen days after the program began, it ran out of funds. Money had been quickly gobbled up by larger businesses — many backed by venture capital — and by hotel and restaurant chains with fewer than 500 employees at various locations.

“It wasn’t even a fair fight,” said Phillips.

Larger entities had relationships with big banks and artificial intelligence bots that filled out loan applications, he explained. Smaller businesses, also known as micro businesses, normally are funded by Community Development Financial Institutions, not by large banks. Of the more than 1,000 CDFIs in the United States, only 90 participated in the first round of stimulus funding, said Phillips, noting that the process for applying was extremely difficult.

Many micro businesses are sole proprietorships, especially in the African American small business community. Such businesses were unlikely to receive PPP loans because they had no employees and thus no documented payroll. Phillips gave the example of a barbershop where the owner simply rents out chairs to barbers who are independent entities. For many micro businesses, payroll is not its largest expense, but the PPP program stipulates that 75% of the loan must be used to cover payroll.

Phillips expressed optimism for the second round of funding, an additional $484 billion approved by Congress in late April to keep the PPP program going. It set aside $60 billion to be distributed by smaller banks with less than $50 billion in assets.

In this round, 324 CDFIs are participating, and an additional $10 billion was set aside specifically to channel loans through them.

Loan amounts also have dropped, from $260,000 in the first round to an average $115,000, which means smaller businesses are applying and getting funded, Phillips said. To date, about 4.5 million loans have been distributed.

Rep. Ted Lieu, who represents California’s 33rd Congressional District, said Democrats fought hard to make the second round of stimulus funding accessible to businesses with fewer than 20 employees. The challenge, however, lies in letting business owners know these funds are available.

Re. Lieu used his own immigrant parents, who ran a small gift shop as an example of a typical very small business: “We had no idea what a chamber of commerce was. We had no idea what really was happening in most of government. We were just trying to survive and try to sell gifts and make sure that we had money to make payroll,” he said.

Every member of Congress has a staff member dedicated to helping business owners manage their PPP loan applications, Rep. Lieu noted, and added that he is
advocating for future rounds of stimulus funds. “We just have to provide additional sustenance to the American people, both to families and to businesses.”

Even if governments all across America lifted the stay-at-home orders, the economy would still be sluggish, he said. “People are simply not going to engage in a lot of activities that they previously did because they want to protect themselves and their families. That’s going to keep our economy slow until there’s a drug therapy or a vaccine.”

During the briefing, the congressman lambasted President Trump for refusing to wear a face mask: “I think it’s shameful and disgraceful of the president of the United States not to wear a mask in public and to post things on his social media that suggest people shouldn’t wear a mask. It is a ridiculous way to govern.”

Shelly Kapoor Collins, a general partner at the Shatter Fund, which invests in women-founded businesses, said even in a good economy, women get only 2% of venture capital funds. “So, can you imagine what will happen in a post COVID era?”

Collins, who also served in the Obama administration’s National Women’s Business Council, stressed the importance of ensuring that women have access to capital to start and grow their businesses. About 12.3 million businesses nationwide are owned by women. They employ nine million people and generate $1.7 trillion in revenue.

“If women continue to scale their businesses, we have the opportunity to grow our GDP by $500 billion,” Collins said.

The United States must have an economy that includes businesses owned by diverse founders, she said, “especially [in] minority communities and especially [by] women. It’s the right thing to do, without which we cannot have a full economic recovery.”

Sumita Batra shared the story of ZIBA Beauty Salons, a business her mother founded that brought the centuries-old beauty technique of threading to this country. In March, before Newsom issued his statewide stay-at-home orders, Batra made the difficult decision to close all 14 branches of her salon and laid off 144 employees. Their final paychecks came out of her personal savings.

She applied for a PPP loan when the program began and received funds 10 weeks later. Those funds can only be used for operations and payroll after receipt and not for past debts, such as unpaid rents or leases.

Touch-based services, such as threading and nail salons, will have a harder time recovering postpandemic. Batra said she will not re-open her salons until she can ensure that her employees and clients are absolutely safe. She advocated for having stimulus funds directed specifically to services like her own.

“Touch services coming back too soon will be one of the things that ends up spreading COVID,” Batra said.


相关讯息

Graduation season in Qingdao, Shandong: To Our Future 
 

兒童哮喘 要堅持規範用藥 
 

Butterflies blooming attracts tourists in Yunnan 
 

加州参议院通过工作保护法案 
 

加州要求人们在本周末佩戴口罩、避免集会 
由于加州的新冠病毒病例数量激增,州长加文·纽森于72日要求加州人戴上口罩,并避免74的家庭聚会,但州长并没有威胁要镇压那些违反州公共卫生法令的人。

為什麼蘑菇的味道那麼鮮美? 
 

Panda breeding base welcomes its heaviest newborn cub 
 

Jiuzhaigou panda park opens in southwest China 
 

Animals enjoy Duanwu Festival in east, northwest China's wildlife parks 
 

Aerial photography  
 

Qingdao Shilaoren Beach was officially opened on July 1 
 

Rare footage of Assam macaques bathing in river caught in Yunnan 
 

Butterflies booming in butterfly valley in Yunnan 
 

Three clouded leopards spotted in Yunnan 
 

Black crested gibbons on ground caught by camera in Yunnan 
 

本目录中最多阅览的文章

朱易 : 马鞍峰教会的增长及其深远影响 (1) 
许多前来参加每年一次牧师研讨会的牧师感到(2003年人数达到二十五万之多),他们正经历著一场由华理克牧师主导的改革运动,他们好像又回到了激动人心的马丁路德改教运动的时代,不同的是他们可以与领导今天这场改革的领袖相遇和交谈。

华理克牧师认为马丁路德时代的改革是让教会清楚教会所相信的是什么,这也是我们今天还在传讲的信息和教义,而今天的改革是让教会清楚教会要做什么


第二次宗教改革的呼声 
新兴教会的运动是教会的第二次宗教改革, 它将彻底改写教会历史, 并开创全新的教会时代.

朱易 : 马鞍峰教会的增长模式和教会市场法的危机 (1) 
除了“目标导向”的增长公式,许多牧师认为华理克牧师还有增长的秘诀,但华理克牧师认为他的增长策略其实是十分简单,归纳起来只有三条.

不少学者持怀疑的态度, 他们认为“目标导向”不过是将传统的基督教原则作了不同的包装。




《断背山》风头正健,价值观江河日下 (1) 
对基督徒而言,这部影片只不过是一个用艺术包装起来的同性恋合理的说教。但这一次,基督徒却无法用忽略它的存在的方式来反击它,他们必须寻找新的方法来坚守传统的战线。


朱易: 他的正面思维影响了全世界 (1) 
但是斯凯勒在教会界配受尊重,除了他在教堂的建造上独树一帜外,他的人品和神学上也颇为出色。他是少数几个没有丑闻的电视布道家之一,而让他成为非主流教会和许多基督徒仿效的对象的原因是,他的讲道着重正面信息,用正面思维看问题。


   Email: sino.american2020@gmail.com    Powered by Web4Jesus (W4J) Ministry