News (2428)
Businesses Don't Have to Declare Bankruptcy
According to Forbes, small businesses facing financial difficulty have a few options other than bankruptcy.
It’s an understatement to say that the pandemic has not been kind to small businesses. In fact, nearly 79% of small businesses have felt a moderate-to-large negative effect from the pandemic, according to an August 2020 U.S. Census Bureau Small Business Pulse Survey..
Read more...College Is Back In Session and Businesses Are Ready
Small businesses in college towns welcome the return of students, reports the Associated Press.
Perry Porikos sat in the street outside one of his five businesses, in a makeshift patio area that didn’t exist before the COVID-19 pandemic sent his best customers — University of Michigan students — back home in mid-March.
Read more...Oversight of PPP Money Needed
Gas station owner received Payroll Protection money and spent it on political billboards, reports CNN.
The billboards began popping up along a desert stretch of highway in Arizona and California in early August — plastered with "Make America Great Again!" in large capital letters or an image of President Donald Trump looking up to the sky and giving a big thumbs up.
Read more...Consumers Unconcerned About Payment App Safety
Payment apps are popular with American consumers but a new survey reveals that consumers aren’t concerned about the safety of these transactions, reports Small Business Trends.
According to Money Crashers, 90 million Americans use payment apps. But its new survey reveals 52% of the respondents are not concerned about payment app security. This translates to millions of people not taking the necessary precautions to protect their transactions and personal data.
Read more...Minnesota Man Charged with PPP Fraud
A St. Paul man has been charged with fraudulently obtaining PPP loans, reports Star Tribune.
A 32-year-old St. Paul man was indicted by a federal grand jury on fraud and money laundering charges, accused of obtaining $841,000 in fraudulent Paycheck Protection Program loans created to help small businesses harmed by COVID-19.
Read more...Small Business Hurt by Postal Problems
According to CNN Business, problems within the U.S. Postal Service are hindering how small businesses conduct business.
Delays in mail delivered by the United States Postal Service have impacted veterans waiting to receive their medication and threatened mail-in voting in November. They're also hurting America's small businesses.
Read more...Economic Injury Loans Lower PPP Forgiveness
Small businesses that received an Economic Injury Disaster loan may receive less forgiveness for their Paycheck Protection loans, reports CNBC.
Entrepreneurs who received up to $10,000 in federal grants and took a forgivable Paycheck Protection Program loan as well are in for a surprise: They won’t be getting the full loan forgiveness they had hoped for.
Read more...Options for Loans Other Than PPP
There are loan options for businesses unable to get a Payroll Protection Loan, reports Entrepreneur.
Beyond the Paycheck Protection Program and the Small Business Administration, businesses need money. But what if you can’t get a PPP loan?
Read more...Business Association Wants Loan Details
According to NBC Palmsprings, the American Small Business League is suing to find out how the Payment Protection Program funds were distributed.
Concerns have been raised on whether funds for the Payment Protection Program (PPP) aimed to help small businesses have been distributed fairly. And now a local small business advocate is suing The Trump Administration for fraud.
Read more...Small Business Supports Cares Act
Many small businesses support extending the Cares Act payment of $600 to unemployed workers, reports the Guardian.
About 30 million unemployed Americans are now on tenterhooks waiting to see if the $600-a-week federal unemployment benefit created by the Cares Act will be renewed.
Read more...
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