WASHINGTON—Small businesses that had reported record-high optimism in recent years are now facing an unprecedented economic disruption caused by the pandemic. Fearing a cash crunch, business owners are flocking to their local banks to apply for coronavirus relief loans to stay afloat during the crisis.
Small businesses have applied for more than $40 billion in relief funds under the Paycheck Protection Program (PPP), President Donald Trump said during a White House press briefing on April 7.
