Originally posted by Hamloc
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The stats on small business failures is dismal at the best of times. 30% fail within the first 2 years, By 10 years, ~65 % of all small businesses will have failed.
And that is without lockdowns and forced closures such as just occurred.
Most of the businesses with outstanding CEBA likely weren't going to survive even without a pandemic interruption. No chance in (insert expletive here) that they were going to recover from the pandemic enough to repay the loans.
Can you imagine how many candles or cheeseburgers or scrapbook kits you have to sell to net $40,000 to repay the loan after the money has been spent?
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