About 70% Of Small Businesses Have Applied For A Cares Act Loan. It’s Unclear How Many Have Received Them.

About 70 percent of U.S. small business owners have already tried to apply for an emergency loan through a new $349 billion program, according to an industry survey released Thursday. However, it is unclear how many of the thousands of businesses that have applied for these loans have received them, if any. The Small Business Administration has not released data showing how many businesses have received the funds and has not answered basic questions about the program. More than half of the small businesses that have not yet applied plan to or are considering it, according to the National Federation of Independent Business (NFIB), a trade group for small and independent businesses. Read more at The Washington Post.