News (2420)
Main Street Funds Diverted to Small Business
The Main Street Lending Program for small businesses will have some of its lending diverted to small businesses impacted by Covid-19.
The Federal Reserve is changing the rules of its Main Street Lending Program to help smaller businesses that have been struggling to get by while waiting for additional stimulus from Congress.
Read more...Fraud Rampant in Loan Program
According to Bloomberg, the Small Business Administration gave away millions of dollars in fraudulent Small Business Economic Injury Disaster loans.
For a few months this year, a U.S. government aid program meant for struggling small-business owners was handing out $10,000 to just about anyone who asked.
Read more...Small Businesses Betting on Holiday Boost
Small businesses are hoping this holiday season helps balance out losses from early spring, report CNBC.
Unlike most retailers, which see a sales peak over the winter holidays, revenue at Potomac River Running, a chain of 10 specialty running stores in Washington, D.C., and Virginia, is highest during the spring and summer.
Read more...SMB Sales Soar by 60% on Amazon Prime Day, Sold $3.5 Billion Worth of Goods
According to the research data analyzed and published by ComprarAcciones.com, Amazon Prime Day sales 2020 amounted to $10.4 billion. Compared to 2019 when sales totaled $7.16 billion, there was a 45% increase.
Read more...Business Owners Remain Optimistic
New survey from Capital One finds that small business owners remain optimistic about their future, reports Tech Republic.
It’s likely that optimism buoyed many small business owners (SBOs) to start and build their businesses to successful heights.
Read more...Tax Savings Before Year End
According to the Colorado Times, there are some tax saving steps small business owners can take before the end of the year.
If you own a successful small business or professional practice, it is not (yet) too late to make a last-minute move to save big on your 2020 tax bill . . . but time is running out.
Read more...Businesses Still Awaiting Forgiveness
Many small businesses are fretting because they still don’t have guidance on how the PPP Loan Forgiveness program will work, reports CNBC.
Time is running out for millions of small business owners on Main Street. It’s not just another round of cash that they need from Washington to avoid contagion.
Read more...Free Consumer Webcast: Year-End Financial Planning Moves - Oct 21 @ 1PM ET
The COVID-19 pandemic has had a tremendous impact on every area of American life, from work and leisure to parenting and community involvement. It has caused unprecedented economic uncertainty, stock market volatility and sweeping new laws that underscore the need for ongoing planning.
Read more...SBA Reduces Loans to Black Owned Business
New research by the Cleveland Business Journal finds that the Small Business Administration has reduced lending to Black owned businesses by 84%, reports Cleveland.com.
The Small Business Administration has decreased its loans given to Black-owned businesses 84% since peaking before the Great Recession, according to research by the Cleveland Business Journal.
Read more...Small Business Needs Government Help
Small business owners are desperate for the government to do something to help alleviate their financial distress, reports CNN Business.
Tim Burgess came up with creative ways to keep his Charlottesville, Virginia, restaurants running after reopening in May, following a nearly two-month shutdown during the pandemic.
Read more...
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