Discover and read the best of Twitter Threads about #PPPFail
Most recents (3)
There are 30.7M small businesses in the U.S. which account for 99.9% of all U.S. businesses (SBA, 2019)
SBA defines a #SmallBusiness as a firm having fewer than 500 employees.
This means that many highly valued startups in the U.S fit within this definition of small businesses.
SBA defines a #SmallBusiness as a firm having fewer than 500 employees.
This means that many highly valued startups in the U.S fit within this definition of small businesses.
The definition of a #SmallBusiness varies across the world.
For comparison, in the European Union any business that has fewer than 50 employees is considered a small business.
In Australia, companies with fewer than 15 employees are considered small businesses.
For comparison, in the European Union any business that has fewer than 50 employees is considered a small business.
In Australia, companies with fewer than 15 employees are considered small businesses.
#SmallBusiness stats show that most businesses in America have fewer than 500 employees.
Those businesses with fewer than 100 employees account for 98.2% and those w/fewer than 20 employees account for 89%of all businesses in the country.
➡️98.2% have FEWER THAN 100 EMPLOYEES
Those businesses with fewer than 100 employees account for 98.2% and those w/fewer than 20 employees account for 89%of all businesses in the country.
➡️98.2% have FEWER THAN 100 EMPLOYEES
Republicans wrote the bill that exhausted $350b in funds while leaving 95% of small businesses without financial assistance.
But now it's apparently the Dems fault that this failed program has collapsed because they refuse to write another blank check without stipulations...
1/
But now it's apparently the Dems fault that this failed program has collapsed because they refuse to write another blank check without stipulations...
1/
...or oversight.
So while Trump and his sycophants ratchet up the spin and blame in order to rally public pressure for another upward distribution of your tax dollars, maybe take a second to consider why the Republicans refuse to negotiate, allow oversight....
2/
So while Trump and his sycophants ratchet up the spin and blame in order to rally public pressure for another upward distribution of your tax dollars, maybe take a second to consider why the Republicans refuse to negotiate, allow oversight....
2/
...or re-word the program to benefit the people for whom it was intended.
You.
Democratic leaders were elected too. Congress has rules for a reason. The idea that Republicans can dictate and Democrats must capitulate is not how democracies or republics work.
3/
You.
Democratic leaders were elected too. Congress has rules for a reason. The idea that Republicans can dictate and Democrats must capitulate is not how democracies or republics work.
3/
FYI... the PPP loan program for small businesses was funded with $350bn.
The U.S. has 30.2 million small businesses.
Thats an average of $10,769 per small business. It should have been plenty to help close a two month gap.
1/
The U.S. has 30.2 million small businesses.
Thats an average of $10,769 per small business. It should have been plenty to help close a two month gap.
1/
A loophole in the CARES act allowed national corporations with less than 500 employees *per location* to qualify each individual location as a "small business."
Ruth's Chris steakhouse qualified.
2/
Ruth's Chris steakhouse qualified.
2/
Last year they made $42 million in profits.
Last year they spent $41 million in stock buybacks.
Last week, they received $20 million in PPP loans - earmarked for small businesses.
3/
Last year they spent $41 million in stock buybacks.
Last week, they received $20 million in PPP loans - earmarked for small businesses.
3/
