News (2424)
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...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...
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