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Small businesses are hoping for more than a miracle.
• 9 min read
Who gets a helping hand from PPP loan program?
ABC News’ Faith Abubey reports on the struggle for minority-owned small businesses to secure PPP loans, and megachurches facing scrutiny after securing funds.ABC
With the government set to issue a new round of business loans as part of its latest COVID-19 relief bill, struggling small businesses, like Thereasa Black’s gelato shop, are hoping for more than a miracle.
Black opened the gelato store in Arlington, Virginia, in December 2019 soon after returning home from a 13-month deployment in the Navy reserves. Her business is more than that, though; it also fulfills a promise that she made to her 4-year-old daughter Isabella.
Houston Dating, Relationships, Love Stories, Photos | Chron chron.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chron.com Daily Mail and Mail on Sunday newspapers.
Pandemic. Recession. Oil bust. How Houston weathered economic collapse under COVID-19
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Abandoned tanks in Penwell in April. A sudden and devastating oil crash pounded the energy sector,which was still recovering from the deep, two-year oil bust that ended in 2016Elizabeth Conley, Houston Chronicle / Staff photographerShow MoreShow Less
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Brick and mortar retailers were particularly hurt by the pandemic.Karen Warren, Houston Chronicle / Staff photographerShow MoreShow Less
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A man walks through an almost completely empty parking lot at Franklin and La Branch Streets in March.Steve Gonzales, Houston Chronicle / Staff photographerShow MoreShow Less
Back in January, economists predicted a fairly routine 2020. The global economy was expected to grow a healthy 3.3 percent, buoyed by hopes that trade tensions between the United States and China were easing.
Daystar Television received a sizable PPP loan What they purchased will blow your mind chron.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chron.com Daily Mail and Mail on Sunday newspapers.
Joel Osteen’s Church Received $4.4 Million In Stimulus Payments: Churches don’t even pay taxes, which many people feel should disqualify them from the program
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Joel Osteen’s Lakewood Church received a $4.4 million loan through the Paycheck Protection Program, as part of the federal CARES Act that was intended to be a stimulus to keep businesses and employees afloat while the pandemic kept everyone at home.
Churches were also eligible for the money, and some of the most prestigious churches in the country took advantage of the opportunity.
Joel Osteen’s Lakewood Church was not on the initial list of recipients and claimed that they did not apply to receive any money. However, the church later applied and was granted $4.4 million, according to the Houston Chronicle.