Hundreds of Companies That Got Stimulus Aid Have Failed - WSJ

Mr. Clark put Waterford into chapter 7 bankruptcy to repay creditors by selling the company’s assets. Because he personally guaranteed a $1.5 million loan from the Small Business Administration last year, Mr. Clark, 68, expects to file for personal bankruptcy and auction off his home to pay creditors. “We all blame President Trump for his dereliction of duty; we would have been able to stay in business if he had done his job,” Mr. Clark said.

Taking out a personally guaranteed loan of $1.5 million is what put this guy out of business. Market downturns happen all of the time, if not the pandemic it would’ve been something else.