Newsy Investigates: Small Businesses Still Locked Out Of Aid Program

The video discusses the challenges faced by small businesses in obtaining COVID relief from the Small Business Administration (SBA). Despite efforts, businesses like Spang Volus Chocolates struggle due to government errors and stringent anti-fraud measures. With the SBA's aid program winding down, businesses face deadlines to secure funds. Congress is concerned about the SBA's handling of loans, urging better coordination with the IRS. Many businesses have received aid, but some, like Spang Volus, risk closure without timely assistance.

What is the main issue faced by Spang Volus chocolates in obtaining COVID relief?

• They received the wrong amount of funds.

• The SBA mistakenly believes they didn't file taxes in 2019.

• Their application was lost.

• They did not apply for the loan.

What problem did the SBA's anti-fraud measures cause?

• They delayed the start of the program.

• They incorrectly flagged legitimate applications.

• They increased the loan amounts.

• They approved all applications without checks.

What advice was given to businesses like Spang Volus to resolve their loan issues?

• Hire a lawyer to sue the SBA.

• Apply for a different loan.

• Press the IRS to get the necessary paperwork.

• Wait for the SBA to contact them.

By when do businesses need to apply for COVID relief aid?

• February 28th

• November 30th

• December 31st

• January 1st

What is the potential consequence for Spang Volus if they do not receive the loan?

• They will open a new branch.

• They will expand their business.

• They might have to close their shop.

• They will hire more employees.