Hoeven, Thune & Business Leaders Offer Financial Advice For Entrepreneurs
Hoeven Says A Great Thing He's Seen Is How Businesses Have Chipped In To Help Support Each Other In This Time Of Need.
FARGO, N.D. — Senators John Hoeven of North Dakota and John Thune of South Dakota and a team of business leaders answered questions at the Founders Only Virtual Town Hall hosted by Emerging Prairie.
The two talked about how small business owners could benefit from the two trillion dollar stimulus package as well the positive outlook businesses will survive during this financial uncertainty.
“I think it’s going to be a gradual phase coming out in turns of coming back into the workplace. I think you’re going to have places like North Dakota and South Dakota lead that just because of the nature of states, we don’t have as many people close together,” Senator Hoeven said.
Hoeven says a great thing he’s seen is how businesses have chipped in to help support each other in this time of need.
He says a big provision that’s helping is the Paycheck Protection Act that helps businesses pay their employees.
“In other words the portion that’s for payroll, for employees that you keep on the payroll up to eight weeks worth that is a grant back to you as well as other qualified expenses such as mortgage and other debt obligations and risk,” Senator Hoeven said.
Hoeven expects the Treasury Department to start sending out stimulus checks for people as soon as next week as well as those with direct deposit will see that money directly sent to your bank account.
Senator Thune says it’s important that businesses utilize these new programs that can help save businesses and that Americans can get through this crisis.
“This was going to be something that was unprecedented, it calls for extraordinary big and bold action, this a big and bold crisis that we are facing right now and everybody had to step forward,” Senator Thune said.
Hoeven says they are looking at what’s working with these new programs and says that businesses and community need to stick together.
“You are a part of the support network developing at such a wonderful and important way that we can rely on each other as well,” Senator Hoeven said.