Coronavirus Stimulus Loans Still Out Of Reach For Many Small Businesses

In theory, Friday, April 3 was the first day small business owners could apply for loans from the federal government's coronavirus stimulus package.

But in reality, many banks were not accepting applications, or were overwhelmed by the demand.

By Monday, many small business owners in Southern California still had not heard back from their banks.

"I have only been able to fill out what is basically a request for an application with Chase," said Kimberly Austin, who owns Fire Starter Studios in Burbank. "I have had no response from Wells Fargo at all."

Now, she worries the money could be gone before she has a chance to apply.

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