Most Small Firms That Got Covid-19 Aid Struggle With Loan Rules

Most U.S. small businesses that applied for the main coronavirus relief aid program have now gotten funding after initial delays, but many report that they are struggling with the narrow criteria to turn the loans into grants, a new survey shows.

Almost three-quarters of those who received a Paycheck Protection Program loan found it very or somewhat difficult to understand the terms and conditions, according to a National Federation of Independent Business poll of its members. Nearly half said it would be hard to spend the funds within the eight-week period required by law for the loan to be forgiven. ...