*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).
Supreme Court nominee Amy Coney Barrett has presented her conservative approach to the law at the start of a fast-tracked confirmation hearing.
President Donald Trump is looking to get his campaign back on track, a week after he was sidelined with the coronavirus that has killed more than 210,000 Americans.
U.S. Rep. Ken Buck (R-Colo.) joined Cheddar to discuss how Congress and the judiciary should approach big tech monopolies. Buck was clear that the Democrats and Republicans, however, disagree on just how to go about shrinking the tech giants.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
The White House is boosting its offer in up-and-down COVID-19 aid talks Friday in hopes of an agreement before Election Day.
Former GOP presidential candidate Carly Fiorina discussed her support of Joe Biden's bid for the presidency. Also, the former CEO of Hewlett-Packard, she attributed her support for Biden due to a lack of leadership from President Trump and his failed foreign policies.
Democratic lawmakers are speaking out against a proposed Labor Department rule that they argue would make it harder for retirement funds to consider important environmental factors when making investment decisions.
A new Cheddar poll, conducted by SurveyUSA, on Supreme Court nomination, abortion law, and the Affordable Care Act.
It’s suddenly up in air when the next presidential debate, or maybe debates, may take place.
Six have been charged in federal court with plotting to kidnap Michigan Democratic Gov. Gretchen Whitmer, and separately, seven more have been charged with trying to target police and the Michigan Capitol.
Load More