Government Shutdown's Economic Impact
The government shutdown is affecting the economy, with entrepreneurs facing difficulties in growing their businesses.
"The shutdown is stifling our ability to grow,"
said Grant Richardson, founder of Pangea Selections, a wine import company. Richardson is unable to close on a six-figure Small Business Administration loan and is still waiting for $10,000 in business tax credits.
- Can't close on a six-figure Small Business Administration loan
- Owes roughly $20,000 in tariffs this month
- Waiting for $10,000 in business tax credits
- Can't launch a new product line due to unapproved labels
"The government is still taking money from us, but it's not paying out what it owes,"
Richardson said, highlighting the shutdown's impact on his business. The shutdown has frozen key government functions, including lending and tax credit processing.
Author's summary: Shutdown affects economy and businesses.
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