Money

Small Businesses In Limbo As They Await Financial Help

News Reports
Posted on March 27, 2020
Maurice and Rhonda Brewster, owner of Mosaic Global Transportation in San Francisco, CA. Maurice, also a leader in the Minority Limousine Operators of America, was quoted about how the coronavirus is affecting small businesses in the Friday, March 27, 2020 edition of the Wall Street Journal. (LCT file photo)

Maurice and Rhonda Brewster, owner of Mosaic Global Transportation in San Francisco, CA. Maurice, also a leader in the Minority Limousine Operators of America, was quoted about how the coronavirus is affecting small businesses in the Friday, March 27, 2020 edition of the Wall Street Journal. (LCT file photo)

Small businesses are trying to defer bills and secure emergency loans to stay afloat amid the coronavirus scourge as they await relief earmarked specifically for them in the $2 trillion stimulus package working its way through Congress.

The bill, approved by the U.S. Senate Wednesday and now awaiting action in the House of Representatives, also would provide an infusion of capital to small businesses deserted by clientele or shuttered as a result of lockdowns aimed at slowing the advance of the virus.

“We’re nervous,” said Maurice Brewster, chief executive of RM Executive Transportation Inc., a San Jose, Calif.-based ground transportation provider that does business as Mosaic Global Transportation. “A lot of business—my sized business, small-, medium-sized business—we’re primed to go out of business.”

Wall Street Journal article here

Related Topics: business loans, California operators, coronavirus, covid-19, crisis management, disasters, emergency planning, emergency preparedness, Maurice Brewster, media, Minority Limousine Operators of America, San Francisco operators, small business, Small Business Administration, small-fleet operators

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Comments ( 1 )
  • Frank Cicero

     | about 2 months ago

    It's going to be a different ball game from here on end thanks to the Chinese virus . Those who cannot look into the Crystal ball and see the future or misinterprets the future will be the last in the pool. For example when Lincoln ended the Town car for whatever stupid reason they tried to push the MKT and large companies bought them blindly. It took a coach builder to inform companies that sedan clients do not want to sit in a car that looks like a hearse . So while you may be sitting around waiting for the bailout ,I would to see some constructive comments on what you see in your ball . Stay safe and all the best to you

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