Small Business

Jacy and Seth Boyack reopened their Arizona massage spa earlier this month from pandemic-driven closures. But they shut Citrus Massage back down after four days, citing safety concerns from the Covid-19 outbreak.  In an interview Monday on CNBC’s “The Exchange,” Jacy Boyack said that even working the front desk, she felt concerned.  “I’m not a massage

The administrator of the Small Business Administration, Jovita Carranza, looks on during the daily briefing on the coronavirus outbreak. Mandel Ngan | AFP | Getty Images The speedy rollout of the Paycheck Protection Program put cash into the hands of business owners — and it may have also paved the way for fraud. Those were

Jovita Carranza, head of the Small Business Administration, listens during a roundtable discussion with governors and small-business owners. Alex Wong/Getty Images Millions of small businesses have gotten federal aid to help weather the recession caused by the coronavirus pandemic. Despite that relief, many don’t expect to survive the crisis. Entrepreneurs who close their doors may

Many businesses are using “the pandemic as a cloak” to cut jobs that they had wanted to cut even before the coronavirus outbreak, “Shark Tank” investor Kevin O’Leary told CNBC on Wednesday.  “Their jobs will never come back,” O’Leary said on “Squawk Box.” ”This is great for earnings in the S&P. It’s not great for employment.”  O’Leary said that

A sign is seen at the window of a closed J.Crew store near Rockefeller Plaza on May 4, 2020 in New York City. ANGELA WEISS/AFP via Getty Images Roughly 14% of business owners who received a loan through the Paycheck Protection Program expect to lay off workers once they deplete their funds, according to a

People look at the Manhattan skyline before watching a movie at the Skyline Drive-In NYC cinema experience on June 16, 2020 in the Brooklyn Borough of New York City, amid the novel coronavirus pandemic. Angela Weiss | AFP | Getty Images More than 700 cities across the U.S. plan to delay or cancel planned infrastructure

A person on a scooter rides past a JPMorgan Chase & Co. bank branch in New York, U.S., on Thursday, June 11, 2020. Jeenah Moon | Bloomberg | Getty Images It’s the banking world’s version of the rich getting richer. A record $2 trillion surge in cash hit the deposit accounts of U.S. banks since

During the pandemic, Shelly Marshall knew she’d have to pivot quickly to stay afloat. Marshall co-owns Brooklyn-based Island Pops with her husband, Khalid Hamid, selling Caribbean-inspired ice cream. “You come to a shop, sit down and have an ice cream cone and hang out with friends — that wasn’t possible during Covid,” Marshall said. “Customers

10’000 Hours The IRS won’t let you write off those home-office expenses on your 2020 taxes, but your state just might. It’s been about three months since state governments put in place stay-at-home orders to mitigate the spread of coronavirus. Indeed, employees who have the option to work remotely are getting used to it. More

Rob Frohwein, CEO of Kabbage Adam Jeffery | CNBC In late March, with the coronavirus pandemic forcing mom-and-pop shops across the country to shut down indefinitely, small business lender Kabbage furloughed a “significant number” of employees and paused its lending operation, anticipating the contraction in its customer base. But CEO Rob Frohwein, who co-founded the

Founders: Rob Frohwein (CEO), Kathryn Petralia, Marc GorlinLaunched: 2009Headquarters: AtlantaFunding: $489 millionValuation: $1.1 billion (PitchBook)Key technologies: Artificial intelligence, machine learningIndustry: Credit, financial services, lendingPrevious appearances on Disruptor 50 List: 2 (No. 14 in 2019) George Kavallines Among the biggest headaches any small business faces is cash flow. Kabbage, headquartered in Atlanta, is a data and technology company providing small businesses with

As retail sales pick up again, National Retail Federation CEO Matthew Shay said he wants to make sure small and mid-sized stores and restaurants can make a comeback, too. “They get hit harder and they get hit first and so we need to bring them back quickly,” he said on CNBC’s “Squawk Box.” Retail sales

Jovita Carranza, Administrator of the U.S. Small Business Administration, testifies at the Senate Small Business and Entrepreneurship Hearings to examine implementation of Title I of the CARES Act on Capitol Hill in Washington, DC, June 10, 2020. Kevin Dietsch | Pool via Reuters The Small Business Administration is reopening its Economic Injury Disaster Loan and

U.S. Treasury Secretary Mnuchin announces new sanctions on Iran in the Brady Press Briefing Room of the White House in Washington, January 10, 2020. Kevin Lamarque | Reuters Treasury Secretary Steven Mnuchin said on Monday he will be talking with the Senate and others on a “bipartisan basis” about striking a balance between protecting the

Jamie Dimon, CEO, JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit, December 6, 2018. Janhvi Bhojwani | CNBC House Democrats on Monday wrote to the chief executives of some of the country’s largest banks demanding they disclose documents pertaining to their handling of the federal government’s small business bailout loan program.  In

Lisa Hess and her daughter Lucy enjoy a cup of coffee in San Luis Obispo, California. Shannon McMillen Photography Lisa Hess, owner of Lucy’s Coffee, has started the long climb to restoring her business in a post-coronavirus world. But her well of emergency funding is about to run dry. The crisis came at quite possibly

Willie the Wildcat fires up the fans in the first quarter of a Big 12 football game between the West Virginia Mountaineers and Kansas State Wildcats on November 16, 2019 at Bill Snyder Family Stadium in Manhattan, KS. Scott Winter | Icon Sportswire | Getty Images For Russ Loub and the Little Apple Brewing Co.,

There are around 3.5 million truck drivers in the United States. Their average salary is close to $60,000 a year. Training to get your Class A Commercial Driver’s License takes about seven weeks if you go fulltime. You will also need to be 21 if you plan to drive across state lines.  Trucking comes in

Somerville’s Division St., a usually bustling pedestrian street, pictured from Main Street. In the front of the image is a sign for Somerville’s weekly cruise nights, which are “on hiatus due to Covid-19.” June 9, 2020. Will Feuer Somerville, New Jersey has enjoyed a rising tide in recent years. Main Street is usually bustling, drawing

At Chris Purcell’s Firehouse Subs location in Elizabeth City, North Carolina, things aren’t quite business as usual. After suffering sales drops of as much as 60% during the height of the coronavirus pandemic, customers are starting to return. Now it’s all about making them comfortable and keeping employees and patrons alike safe in his store,