Tim Russell, owner of Maggie’s Farm Rum and Allegheny Distilling (Pittsburgh, Pennsylvania), was surprised when the SBA withdrew his EIDL application, citing as its basis that “Timothy Russell is deceased.” Russell, very much alive, has, to date, been unable to rectify the issue with the SBA. What’s worse than being declared dead by the SBA, you might ask? How about being torched on TikTok when your Facebook Live apology went very, very wrong.
Business Takeaway: While the various business loans over the past 18 months or so have served as a lifeline for many businesses, others have hit a few snags that prevented them from receiving these benefits or the loan forgiveness process. While this story is certainly amusing, it also represents a real issue for a real business. What was your loan (and loan forgiveness) experience?
