News (2425)
Loans Not Returned
A majority of Paycheck Protection Program loans that went to publicly traded companies have not been returned, reports the Hill.
More than 80 percent of public companies that received loans through the Paycheck Protection Program (PPP) have kept the money, according to an analysis by market research firm FactSquared.
Read more...Government Set to Revise PPP Loans
The rules surrounding the aid to small businesses in the form of the paycheck protection program loans will be revised, reports Yahoo Finance.
The United States is expected to revise its aid program for small businesses to cope with the economic fallout of the coronavirus outbreak, the Wall Street Journal reported on Sunday.
Read more...Small Business Needs to Reinvent
In order to survive small businesses will need to reinvent how they do business, reports Fox 6 Now.
It seems gone are the days of customers packing into a store, trying to get their hands on that coveted item. Instead, it’s about sanitizing and lessening the crowds amid the coronavirus pandemic.
Read more...Companies Return PPP Funds
According to Politico, many companies that originally took PPP funds are now hurrying to return them before the deadline.
Public outrage and Trump administration pressure have forced dozens of companies to return government-backed small business loans, sweeping up not only major brands like Shake Shack and Potbelly but also smaller employers that don't want to face scrutiny.
Read more...IRS Ruling Negates PPP Gains
An IRS ruling could eliminate any benefits small business would see from the Payroll Protection Program, reports Kiplinger.
The IRS just did something that stunned me. It pulled the rug out from under desperate small-business owners just as they were starting to get their feet under them. It was about a month ago that I praised what I saw as the one of the most comprehensive, beneficial acts of Congress in American history.
Read more...Small Businesses Need to Watch for Fraud
Small businesses prepare for an uptick in “friendly fraud”, reports USA Today.
With Americans growing more cautious about their spending habits in the wake of layoffs and pay cuts due to the coronavirus pandemic, experts caution that small businesses should brace for a rise in “friendly fraud.”
Read more...More Debt for Small Business
According to Vox, the Paycheck Protection Program may ultimately lead to more debt for small businesses.
A new report from the inspector general for the Small Business Administration finds that forgivable loans from the government — intended to help small businesses weather the current economic fallout — could ultimately leave many weighed down by debt.
Read more...Free Online Seminar to Help Leaders Create Effective Unifying Vision
Businesses around the nation need something to help them get past this current pandemic and thrive going forward. One popular book author is offering a free online seminar to give them the motivation and tools they need to do just that. The online seminar, which will be held May 8, 2020, at noon EST, will give business leaders the insider information on what they need to create a unifying vision, as well as how to leverage the power of it to help their business succeed.
Read more...Large Restaurants Were Supposed to Get PPP Funds
ccording to Business Insider, it was not an error that large restaurant chains got Paycheck Protection Program funding.
As the federal government's aid to businesses affected by the coronavirus pandemic has gone out, a curious new breed of public moralizer has emerged: the wealthy businessman or their political allies angry at businesses getting money that isn't "meant for them."
Read more...Understand the PPP Rules Before Using
Small businesses need to understand the Paycheck Protection Program’s forgivable requirement before spending their loan, reports Entrepreneur.
Many small business owners who have been approved for Paycheck Protection Program loans (“PPP”) are realizing that the loan isn’t as forgivable as they’d hoped.
Read more...
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