*By Christian Smith*
As the partial federal government shutdown enters enters its 27th day, American businesses are beginning to feel the strain.
For Fat Brands Inc. ($FAT) ー which owns a number of fast food brands Fatburger, among them ー the consequences of the shutdown are slowly trickling up to corporate, but president and CEO Andy Wiederhorn said franchisees are thus far bearing the brunt of the shutdown.
"I think it's really much harder on the franchise operators because they're trying to build stores they've already started to build, or they've got a lease signed up and now they need their loan to get going for construction," Wiederhorn said Wednesday in an interview with Cheddar.
With the Small Business Administration closed, small businesses are unable to access SBA-backed loans. The SBA usually manages over 300 loans each day, which [The Washington Post](https://www.washingtonpost.com/business/2019/01/11/congresswoman-calls-trump-restart-small-business-lending-level-anxiety-is-unprecedented/?utm_term=.f50572777f74) reported amounts to roughly $200 million worth of loans for small and midsize businesses.
Small business owners in need of capital during the shutdown must turn to other sources of funding, such as non-SBA-backed loans, which generally come with higher interest rates.
But Wiederhorn noted that every sector of business ー even the major players ー is experiencing negative side effects.
"It's affecting everybody, not just small business, but large business," he said. "It's really very difficult."
For full interview [click here](https://cheddar.com/videos/fat-brands-inc-ceo-explains-how-the-government-shutdown-is-impacting-americas-small-businesses).
President Joe Biden on Tuesday formally announced that he is running for reelection in 2024, asking voters to give him more time to “finish this job” he began when he was sworn into office and to set aside their concerns about extending the run of America’s oldest president for another four years.
The sheriff's office in Carroll County, northeast of Louisville, has hired former Louisville police officer Myles Cosgrove, who fatally shot Taylor in a March 2020 drug raid that used a faulty warrant to break through her door.
The United States has begun facilitating the departure of private U.S. citizens who want to leave Sudan, according to White House national security adviser Jake Sullivan.
Fox News says it has agreed to part ways with Tucker Carlson, less than a week after settling a lawsuit over the network’s 2020 election reporting.
President Joe Biden said Monday that his top domestic policy adviser, Susan Rice, will leave her post next month.
Former President Donald Trump appears in court for his arraignment in a criminal case over fraudulent business records, April 4, 2023, in New York.
The Supreme Court is facing a self-imposed Friday night deadline to decide whether women’s access to a widely used abortion pill will stay unchanged until a legal challenge to its Food and Drug Administration approval is resolved.
President Joe Biden will formally announce his 2024 reelection campaign as soon as next week, three people briefed on the discussions said Thursday.
U.N. Secretary-General Antonio Guterres bluntly challenged the climate efforts of President Joe Biden and other world leaders Thursday in a message for a White House summit, charging that expanded oil and gas drilling and other policies of the richest countries amount to a “death sentence” for the planet.
Twitter has removed labels describing global media organizations are government-funded or state-affiliated.
Load More