Small Businesses Continue Struggling. Also, Insurance Relief.

Monday_673x324MONDAY, APRIL 27
PROGRAM # 8866 12:00 PM PT

Small Businesses Continue Struggling.

Congress voted to add additional funds to the Paycheck Protection Program (PPP) and the Economic Damage Disaster Loan. But the bill failed to support lenders that provide capital to Latino small businesses and other “underbanked” communities. This is not good news for California’s small businesses, many of who are closing or about to close during the Covid-19 crisis and received the fewest PPP loans in the entire country. An advocate comments on those topics and on the breaking news story: the website of the federal agency in charge of processing the loan applications crashed in the first hours after a flood of applications. She also advises on the steps to apply or reapply for PPP or disaster loans.

Guest: Xiomara Peña, California Program Director and national Latino Entrepreneurship Director, Small Business Majority, Los Angeles, CA.

Insurance Relief. As thousands of workers, many immigrants, continue working in jobs deemed essential and running the risk of coronavirus, California Insurance Commissioner reminds insurance companies that worker’s comp insurance applies to those workers too. In this interview, the commissioner explains new measures to bring relief to consumers during the current Covid-19 crisis, including ordering insurance companies to return insurance premiums to drivers and businesses, since sriving less means less risk of accidents and this reality should be fairly reflected in the prices of the policy premiums.

Guest: State Commissioner Ricardo Lara, California Department of Insurance, Los Angeles, CA.


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