*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 Donald Trump and Democratic rival Joe Biden sparred Tuesday in their first of three debates, hoping to sway undecided voters planning to cast ballots by mail and in person in the final weeks leading up to the Nov. 3 election.
A look at how their statements from Cleveland stack up with the facts.
Stocks ended with moderate losses Tuesday as investors waited for the first debate between President Donald Trump and Democratic challenger Joe Biden.
Joey Bergstein, Seventh Generation CEO, joined Cheddar to discuss the climate crisis and the presidential debate.
Democratic presidential nominee Joe Biden paid nearly $288,000 in federal income taxes last year, according to returns he released just hours before his debate with President Donald Trump.
Activist, Erin Brockovich joined Cheddar to advocate for 911 operators to be classified as first responders and address problems plaguing the water supply in U.S. communities.
Supreme Court Justice Ruth Bader Ginsburg was buried Tuesday in a private ceremony at Arlington National Cemetery. She is the 14th justice to be buried at the cemetery.
The milestone, recorded by Johns Hopkins University, comes nine months into a crisis that has devastated the global economy, tested world leaders’ resolve, pitted science against politics and forced multitudes to change the way they live, learn and work.
President Donald Trump is expected to announce the shipment of millions of rapid coronavirus tests to states this week. He plans to urge governors to use them to reopen schools.
President Donald Trump paid just $750 in federal income taxes the year he ran for president and in his first year in the White House, according to a report Sunday in The New York Times.
President Donald Trump nominated Judge Amy Coney Barrett to the Supreme Court on Saturday, capping a dramatic reshaping of the federal judiciary that will resonate for a generation and that he hopes will provide a needed boost to his reelection effort.
Load More