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Thirty-five percent of small business owners in recent CreditCards.com survey say they used savings or personal credit cards to help cover expenses during COVID-19 pandemic
Seventy percent use some form of assistance, such as PPP or business savings account
Most small businesses are hoping for increase in sales to stay in business or meet growth targets
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Sharp decline in sales forces major fast food and coffee chains to shutter 1,400 locations
Revenues fall as much as 38 percent during COVID-19 pandemic
Companies plan investments in models allowing better response to future pandemics
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Federal Reserve lending facilities that were set to expire on Sept. 30 extended through Dec. 31
Extension occurs amid rising jobless claims and severe contraction of U.S. GDP in second quarter of 2020
Substantial five-year loans offered at low interest rates, but with several restrictions
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Both the HEALS Act and HEROES Act propose billions of dollars in funding for agricultural producers affected by COVID-19
Bills include relief for meat producers forced to euthanize healthy animals due to backlog in animal processing
Agricultural processors such as textile mills and ethanol plants would also see financial support
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Senate Republicans’ proposal for continued COVID-19 relief would provide additional stimulus while reducing unemployment supplement
Second round of Paycheck Protection Program would focus on small businesses
Additional funds aim to relieve workers of child care burden
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A recent survey finds that about eight in 10 workers use their smartphone for personal use during work hours, and fall victim to numerous other distractions as well
Respondents say distractions are a key factor in disrupting their workflow, forcing them to work irregular hours
Few want permanent work from home arrangements, but favor an office/home mix
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Restaurant industry report says 85 percent of independent restaurants could be forced to close if relief is not forthcoming
One plan calls for $120 billion to support restaurants, but others support loans with extremely long terms
Restaurant workers make up largest category of newly unemployed as industry faces an “existential crisis”
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Clarification on Paycheck Protection Program forgiveness likely to arrive after latest round of COVID-19 legislation
Accountants urge borrowers not to rush applications for PPP forgiveness due to dynamic situation
Watch out for the 10-month mark, when the loan can no longer be forgiven
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Connecticut DECD eases some restrictions on reopening restaurants
Additional guidelines presented for offices, retail, and other venues
Phase 3 of Connecticut reopening remains on hold
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A survey of more than 9,700 workers say they believe that working from home is hurting their mental health
Isolation, lack of work-home separation identified as key problems
Results highlight need for companies to have mental health resources available
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