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PPP loans not enough to prevent layoffs at many small businesses

Bangor Daily News 07/11/2020

About 22 percent of small businesses that received Paycheck Protection Program assistance from the federal government have either fired workers or expect to lay them off once their loans run out, according to a survey of member companies in the National Federation of Independent Business. “As owners finish using their loan, more are finding that economic conditions are unable to support current staffing levels,” said the NFIB in a statement.

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