“This is literally the best stimulus bill ever created for small businesses”

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Billionaire entrepreneur Mark Cuban, owner of the Dallas Mavericks and investor in the hit TV show “Shark Tank”, encourages small businesses to apply for the $ 349 billion loan repayable under CARES, the appellant “Literally the best stimulant”. never charges for small businesses. “

“There are problems for every business of all sizes. Small businesses still suffer the consequences because they live from month to month. I remember my first company was excited to be in business for a month, two months, three months, “said Cuban in a large interview with Yahoo Finance this week.

He added that when you have a “cataclysmic event” like the COVID-19 pandemic, small businesses should be aware of the “paycheck protection program” which is part of the emergency stimulus plan to help small companies to pay their employees during the crisis.

In short, companies with 500 or fewer employees can apply for the loan from an existing bank. According to a fact sheet posted on the Treasury website, the loan amounts will be canceled as long as the money is “used to cover salary costs and most mortgage interest, rent and utility costs during of the 8-week period following the granting of the loan. “And” employee and compensation levels are maintained. “

[Readmore:[Readmore:[Lirelasuite:[Readmore:How Small Businesses Can Get a CARES Loan Rebate]

“This is literally the best stimulus bill ever created for small businesses,” said Cuban, adding, “So if you are an entrepreneur, if you are a small business operator, you have to be aware and you should apply as soon as possible. “

SHARK AQUARIUM -
SHARK TANK – “1111” – An entrepreneur from Philadelphia, Pennsylvania is using his advanced stem cell technology to save pets from future illnesses. A native New Yorker, now living in Los Angeles, California, presents his healthier alternative to traditional-style deli meat; while an entrepreneur from Santa Monica, Calif., hopes his innovative, multi-functional exercise machine will become the next multi-million dollar fitness success. Finally, entrepreneurs from Santa Monica, California, present a genius innovation in outdoor furniture on “Shark Tank”, SUNDAY, NOV. 17 (9: 00-10: 00 pm EST), on ABC. (Jessica Brooks via Getty Images) MARK CUBAN

Julia La Roche is a correspondent at Yahoo Finance. Follow her on Twitter.

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