News (2420)
Smaller Loans Getting Easier to Forgive
According to the Hill, the SBA will simplify the loan forgiveness application for businesses that took loans under $50,000.
The Small Business Administration (SBA) and Treasury Department announced that they are simplifying the loan forgiveness application for Paycheck Protection Program (PPP) loans under $50,000.
Read more...Prime Day a Boon for Small Business
Amazon’s Prime Days gives thousands of small to medium size businesses a way to reach more customers, reports CNBC.
Come Oct. 13 and 14, Amazon’s annual two-day members-only online sales extravaganza Prime Day will bring customers over one million deals on myriad products in popular categories including home accessories, toys, and electronics.
Read more...White House Wants Last of PPP Funds Released
According to the UPI, top white house officials are calling for the release of unused Paycheck Protection Program funds.
Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows on Sunday sent a letter to Congress calling for the release of unused Paycheck Protection Program funds amid ongoing talks on an additional round of COVID-19 stimulus.
Read more...Economic Injury Program Not That Helpful
According to the Washington Business Journal, many small businesses were given less money than they needed from the Economic Injury Disaster Loan Program.
Hundreds of thousands of businesses that applied for the Small Business Administration's Economic Injury Disaster Loan program were ultimately given less than they needed, according to a Government Accountability Office review of the program.
Read more...More Money for Distressed Small Business
According to CNBC, the Treasury and the House may be close to an agreement on a further round of funding for distressed businesses.
As House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin try to hash out another coronavirus relief package, distressed business owners continue to wait in the wings.
Read more...Business Switching to Online Sales Miss Tax
More businesses are turning to online sales, however, many small businesses don’t fully understand their states online sales tax rules, reports Forbes.
Covid-19 and the social distancing it requires has pushed more of our purchasing online. In fact, since March an extra $107 billion has been spent online, according to Adobe Analytics.
Read more...AICPA, CPA.com and Biz2Credit Launch New Platform for Small Business Funding
The American Institute of Certified Public Accountants (AICPA), its business and technology arm, CPA.com, and fintech leader Biz2Credit today announced they are teaming up on a new platform, CPALoanPortal.com, to streamline the process for CPA firms advising small businesses both on loan forgiveness under the Paycheck Protection Program (PPP) and additional small business financing options that clients may need to fund growth.
Read more...Loan Forgiveness Might Be Unattainable for Many Businesses
Small businesses might find it hard to navigate the Paycheck Protection Programs forgiveness program, reports the Cleveland Business Journal.
Development consultant Alrich Lynch has a Paycheck Protection Program loan — and now he has a forgiveness problem.
Read more...Paycheck Protection Program Flounders
According to Politico, the Payroll Protection Program is running into problems as the program struggles to convert the loans into grants that can be forgiven.
When the government pledged to give small businesses billions of dollars in rescue loans during the pandemic, it was an offer almost too good to refuse: The loans could be forgiven if employers only maintained payroll
Read more...Helping Small Business Navigate Disaster
After a disaster small businesses could engage a public adjuster; a professional that will help them navigate the insurance process, reports USA Today.
The morning of Sept. 9 started out as any other for Brian Garrison, owner of Garrison’s Home and Garrison’s Sleeper in Southern Oregon. Just a few hours later, he saw two of his four stores burned to the ground in a fire that swept through the Rogue Valley, Oregon.
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