Congress' fund to help small businesses is out of money : The Indicator from Planet Money Congress' recent aid package directed $370 billion to help small businesses. The fund is out of money, and it seems very few who applied got help.
NPR logo

Small Businesses On Their Own

  • Download
  • <iframe src="https://www.npr.org/player/embed/836616922/836619817" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Small Businesses On Their Own

Small Businesses On Their Own

Small Businesses On Their Own

  • Download
  • <iframe src="https://www.npr.org/player/embed/836616922/836619817" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
James Moes/James Moes
Molly Moon Neitzel, CEO of Molly Moon's Homemade Ice Cream in Seattle, Washington.
James Moes/James Moes

Congress passed the $2.2 trillion CARES Act last month. Part of the act was designed to help small businesses, by offering loans of up to $2 million, to keep their heads above water while the economic shutdown continues.

Or that was the idea, at least. It turns out that the $350 billion dollars in aid directed to small and medium-sized enterprises isn't getting to many of them. When it has arrived, it's been in much smaller amounts than advertised. And today we learned the money has run out, leaving a disturbing number of small businesses on the brink of ruin.

To learn more out Molly Moon's Homemade Ice Cream: https://www.mollymoon.com

Music by Drop Electric. Find us: Twitter / Facebook / Newsletter.

Subscribe to our show on Apple Podcasts, PocketCasts and NPR One.