What counts as a small business?

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OTR Media Group President and CEO Sherard Duvall says his small media-production business applied for loans from seven lenders and still hasn’t received any government aid. Many small businesses have had to take out loans or change their business models because economic uncertainty caused by the coronavirus pandemic and experts fear that some will close down for good.Continue Reading BelowThe United States has more than 30 million small businesses, so what counts as a small business?According to the Small Business Administration, which is distributing forgivable Paycheck Protection Program loans to help small businesses keep their employees on the payroll, a small business can employ more than 500 people and still qualify.PPP SET TO EXPIRE WITH $134 BILLION LEFT OVER AS CONGRESS WEIGHS NEXT STEPSSome businesses with more than 500 employees can still qualify for small business benefits from the government, depending on their industry and how much business they do. Now Open sign is displayed at a stationary store in Evanston, Ill., Friday, May 29, 2020. (AP Photo/Nam Y. Huh)For example, companies in sectors including natural gas, photocopying equipment manufacturing and chocolate-making can have more than 500 employees and count as small businesses provided they meet other SBA requirements.The SBA’s …

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