The Government Shutdown's Economic Impact
The government shutdown is having a profound impact on the economy, affecting various businesses and entrepreneurs.
"The shutdown is stifling our ability to grow,"
said Grant Richardson, founder of Pangea Selections, a wine import company. Richardson is facing challenges due to the shutdown, including:
- inability to close on a six-figure Small Business Administration loan
- still having to pay roughly $20,000 in tariffs
- waiting to receive $10,000 in business tax credits
- unable to 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 noted, highlighting the shutdown's effects on lending and tax credit processing.
Author's summary: Shutdown affects economy and businesses.
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