Small Business Owners Are Being Cheated Of Necessary Government Loans

Many small businesses struggling to pay employees and overhead have found that they haven’t been able to receive loans specified for them. Banks are not prioritizing smaller enterprises that have not been able to run during the quarantine.

As we are more than a month into mandated shutdowns and quarantines, these double standards are persisting. One business owner reached out to me, Cat Kom of Studio SWEAT, to relate her experiences. Her Studio SWEAT branch focuses on spinning and indoor cycling to improve students’ health and lifestyle. I’ve reprinted her account below firsthand.

Small Business Disaster Loans: Cat Kom’s Story

I live in San Diego, California. We are a boutique fitness studio. We are the definition of a small business. We definitely were in a tough position when this all went down. One thing that was particularly challenging was moving in the middle of remodeling.

We were moving to a new studio when we were right in the middle of remodeling. The idea was to upgrade our studio. As a result, we were paying rent for two places in March — you…