Listen to “The Federal Financial Help That Small Business Need to Stay in Business” on Spreaker.
Congress is passing $310 billion more for the Paycheck Protection Program and $60 billion for Economic Injury Protection Plan (EIDL). Of the new $310B money designated for the PPP, $60 billion is reserved for lending by small and medium sized financial institutions.
But the roll out through banks has not gone smoothly and it has left alot of small business out of funding. There has to be a better way to get companies the capital they need similar to what other countries are implementing.
Today, I talk with Vijay Sundaram who is Chief Strategy Officer at Zoho about alternative ways we can get companies the money they need during the coronavirus pandemic. Vjay is responsible for the partner and channel program, in addition to global growth and marketing. He is a prior entrepreneur and company founder, in cloud supply chain software, mobile advertising technology, and renewable energy.
Here is what we discussed:
- What do you think of the latest action by congress to refund this program with a few changes?
- How do you think the US do in assisting small businesses with the PPP and EIDL?
- What went well and what did not?
- What should be done differently now to get money to small business owners?
- What are other models we can adopt to help small business owners and employees?
- How much aid will ultimately be required by the federal government?
What suggestions do you have?
Here is also help the Zoho is currently giving small businesses during the pandemic.
