The Government Shutdown's Impact on the Economy
The government shutdown is having a widespread impact on the economy, affecting various businesses and individuals.
"The shutdown is stifling our ability to grow,"
said Grant Richardson, founder of Pangea Selections, a wine import company. He is facing difficulties in closing a six-figure Small Business Administration loan and is still waiting to receive $10,000 in business tax credits.
- Unable to close a six-figure Small Business Administration loan
- Expected to pay $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 said, highlighting the challenges faced by businesses during the shutdown. The shutdown has frozen key government functions, including lending and processing tax credits.
Author's summary: Shutdown affects economy and businesses.