Some investment firms, including those that run hedge funds or manage money for wealthy investors, are among the businesses approved for emergency US government loans to help small businesses pay employees during the coronavirus lockdown, according to data made public on Monday.
WASHINGTON: The government’s small business lending programme has benefited millions of companies, with the goal of minimising the number of layoffs Americans have suffered in the face of the coronavirus pandemic. Yet, the recipients include many you probably wouldn’t have expected.
Economists generally credit the programme with preventing the job market meltdown this spring from becoming even worse. More than 22 million jobs were lost in March and April. But roughly one-third of them were regained in May and June – a faster rebound than many analysts had expected.
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