The Government Shutdown's Impact on the Economy
The government shutdown is having a widespread 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 difficulties due to the shutdown, including an inability to close on a Small Business Administration loan and receiving business tax credits.
- Unable to close on a six-figure Small Business Administration loan
- Still waiting to receive roughly $10,000 in business tax credits
- Cannot seal a deal with a California winemaker 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 his business. The shutdown has frozen key government functions, such as lending and processing tax credits.
Author's summary: Shutdown affects economy and businesses.
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