NEW YORK (Reuters) – Sara Pauly is not one of those small business owners scrambling to fill out paperwork for part of the more than $350 billion in government aid available through the Paycheck Protection Program or the Economic Injury Disaster Loan.
FILE PHOTO: The skyline of New York and the Manhattan bridge are seen as the outbreak of the coronavirus disease (COVID-19) continues in the Manhattan borough of New York City, New York, U.S., April 10, 2020. REUTERS/Eduardo Munoz
Instead, the owner of the Rufus and Delilah pet care business in Los Angeles is scaling back her operation for now.
“I have decided to float the business with a personal loan in order to stay afloat and not declare bankruptcy. Hopefully, I will not have to do this for too many months. If so, I may need to re-evaluate my decision,” Pauly said.
Many small business owners are in a similar situation, where even an influx of relief cash will not help them stay afloat. The dilemma they face is whether to…
