REAL STORIES: Small Businesses Suffered From Lack Of Clear Guidance

Small businesses suffered from the Trump administration’s lack of clear guidance and the changes it implemented to the rules governing the Paycheck Protection Program. Take it from small businesses across the country:


“Any business has to assume they’re going to change all the rules on forgiveness. It’s a damn mess.

New York:

“‘This is a classic bait-and-switch,’ Mr. Forrestel said of the PPP changes.”

“I’ve actually decided that when I’m done getting this company through the coronavirus, I think I want to get involved in small-business advocacy. I’m just outraged. I’m just so outraged.” 


“As new details about this loan had come out, it made me wonder if this thing that is supposed to help me might hurt me.” 

Rhode Island:

There is no guidance as to how the banks should process these loans.” 


I fell through the cracks, I don’t qualify for all the different things that were supposed to help the small business.”


“She is frustrated that banks prioritized large companies for loans meant to help small businesses and feels the rules were changed in the middle of the game. ‘I was asking for a $16,000 loan, this isn’t multi-millions of dollars. It would have really helped me for two to three months.”