Small business owners to govt: Show us the money

With the U.S. Congress poised to pass another coronavirus aid bill this week, many small business owners are still wondering what happened to the money they thought they were getting from the last stimulus package – when Congress pledged $350 billion to Main Street businesses across America.

Lisa Bernhard has more.

With the U.S. Congress poised to pass another coronavirus aid bill this week, many small business owners are still wondering what happened to the money they thought they were getting from the last stimulus package – when Congress pledged $350 billion to Main Street businesses across America.

Like immigration lawyer Inna Shapovalov, who applied for a $10,000 grant for her three-person firm.

(SOUNDBITE) (English) SMALL BUSINESS OWNER, THE CITIZENSHIP CLINIC, THREE-EMPLOYEE IMMIGRATION LAW FIRM, PARTNER, INNA SHAPOVALOV, SAYING: “That was supposed to arrive in three days.

I applied two weeks ago.

I don't even have a confirmation email from them.

I have heard from other small lawyers in my situation that they also have not received any assistance." Congress’ initial lifeline, passed last month as part of a broader $2.3 trillion relief package, has since run out - with much of it gobbled up not by Mom and Pop shops, but by a number of publicly traded companies with thousands of employees and hundreds of millions of dollars in annual sales, including Ruth’s Chris Steak House restaurant chain.

When asked earlier this week if such a company should benefit from small business aid, President Trump said this: (SOUNDBITE) (English) U.S. PRESIDENT DONALD TRUMP, SAYING: “We’ll look at individual things and some people will have to return it if we think it’s inappropriate.” One of those big companies giving the money back?

Shake Shack – which this week said it would return $10 million.

(SOUNDBITE) (English) SMALL BUSINESS OWNER, TOWN KITCHEN & TTKPROVISIONS, CEO, ERIC QUICK, SAYING: "I think at the end of the day, you know, it's really about cash, right?" That’s Eric Quick, CEO of a San Francisco Bay area food service company, who says time is of the essence when it comes to keeping small businesses afloat.

(SOUNDBITE) (English) SMALL BUSINESS OWNER, TOWN KITCHEN & TTKPROVISIONS, CEO, ERIC QUICK, SAYING: “The politicians can talk about it, but the problem is every day they're burning time the small business owners don't have to play with.

And so, this is not a matter of how big it is.

It's how fast it gets deployed out to the businesses.” House Speaker Nancy Pelosi told MSNBC Wednesday that the latest aid bill – already approved in the Senate - would be passed by the House Thursday.

The package includes an additional $321 billion to replenish the government’s small business loan program.