News (2420)
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...Small Business Relies on US Mail
Small businesses are feeling the effects of the US Postal Service slowdown, reports Fox 8.
If you’ve been receiving less mail or late packages, you’re not alone. The U.S. Postal Service is experiencing delays all over the country.
Read more...Paycheck Loan Program Officially Ended
According to Barron’s the U.S. Government’s small business assistance program, Paycheck Protection Program, has officially ended.
The U.S. government’s Paycheck Protection Program, which provided loans to help small businesses struggling during the Covid-19 recession, is about to end.
Read more...PPP Funds Subject to Fraud
Watchdog group finds that many abused teh Paycheck Protection Program, reports Fox 6.
A report from the Office of Inspector General of the U.S. Small Business Administration published on Tuesday details complaints of thousands of instances involving suspected fraud from financial institutions apparently receiving economic assistance from the Coronavirus Preparedness and Response Supplemental Appropriations Act and the Paycheck Protection Program and Health Care Enhancement Act.
Read more...Smaller Firms Found it Hard to Get Funds
According to WAMU, D.C. small businesses struggled to get PPP funding, while larger businesses received funding.
After Mayor Muriel Bowser ordered D.C. restaurants to close in mid-March to mitigate COVID-19, Pop’s SeaBar in Adams Morgan saw an initial 70% drop in revenue, says Dustin Beruta, the seafood restaurant’s general manager.
Read more...Company Offering Small Business Relief
Home improvement company Lowes is offering small businesses grants, reports ABC 13.
Small businesses struggling during the COVID-19 pandemic may be able to get some help soon.
Read more...Keeping Your Business Steady
According to Entrepreneur, there are a few things small businesses can do to help them remain to keep their business steady.
The COVID-19 pandemic has completely upended our normal way of doing business.
Read more...Small Business Might Face Bigger Tax Bill
Despite having their payroll protection loans forgiven; many small businesses will find that they owe taxes thanks to the loan, reports the Hill.
Many businesses have suffered during this economic downturn caused by the coronavirus pandemic. You've read about them in the media. But what you don't read about as often are the many other businesses around the country that haven't suffered as much. It probably hasn't been a very profitable year for those businesses, but they’ve kept things going.
Read more...Small Business in Trouble Again
According to Reuters, as the last of the payroll protection money is disbursed many small businesses find themselves short of cash.
The number of outright failures of U.S. small businesses in the first months of the coronavirus pandemic was comparatively modest, but the months ahead look far grimmer as cash balances dwindle, federal help expires, and the disease surges back.
Read more...
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