News (2421)
Paycheck Protection Off to Rough Start
According to Barron’s, the Paycheck Protection Program is off to a rocky start.
I run a company that helps small businesses get loans. Since the Small Business Administration launched its new rescue package on Friday, I’ve been working from about 7 am to midnight every day trying to get companies what they need to survive.
Read more...Small Business Disaster Loans May Dry Up
According to Yahoo, small businesses hoping to get funds from the Economic Injury Disaster Loan program may be disappointed.
A federal disaster loan program offering up to $2 million in relief is now capping out at $15,000 — and is leaving some borrowers wondering if they'll even get that.
Read more...Businesses Get Creative During Covid-19
During the mandated Covid-19 closures small businesses are finding unique ways to drum up business, reports Fast Company.
We can all agree that social distancing is necessary for the health of our communities, but it’s been catastrophic for many small businesses that rely on in-person activities to thrive.
Read more...Banks Hesitate on Paycheck Protection
According to Bloomberg, banks are hesitant to participate in the Paycheck Protection Loan program because their fear repercussions if they approve a loan that later turns out to be fraudulent.
The basic economic problem right now is that a lot of companies have shut down and aren’t earning any money. The ordinary reaction, for a company that doesn’t make stuff or earn any money, is to go out of business and lay off all of its workers, but it is pretty widely recognized that that would not be a good reaction, for most businesses, right now.
Read more...Paycheck Protection Falters
Financial relief for small businesses hit a snag as banks were not yet ready to accept applications for the Paycheck Protection Program, reports Yahoo Finance.
The Trump administration’s emergency $349 billion Paycheck Protection Program to help small businesses cover their payroll costs was set to roll out on Friday April 3, with banks accepting applications from businesses slammed by coronavirus. (Applicants must have fewer than 500 employees.)
Read more...Startups Miss Out on Paycheck Protection
The SBA’s Paycheck Protection Program still excludes startups, reports Tech Crunch.
Under new guidance issued by the Small Business Administration it seems non-profits and faith-based groups can apply for the Paycheck Protection Program loans designed to keep small business afloat during the COVID-19 epidemic, but most venture-backed companies are still not covered.
Read more...Small Business Loans Forgiven
According to Inc., small businesses could get their loan forgiven under the new stimulus package.
Small businesses reeling from the impact of coronavirus may have good news coming in the form of loan forgiveness.
Read more...Small Business Could Get Relief Under Stimulus
Under the new stimulus plan small businesses with less than 500 employees could qualify for a loan, reports Inc.
With President Donald Trump having signed an unprecedented $2 trillion economic stimulus package aimed at supporting U.S. businesses and individuals, you're probably wondering what it all means for you as a small-business owner.
Read more...Small Businesses in Danger
Former head of the Small Business Administration warns that 20% of all small businesses could go under during the covid-19 crisis, reports Yahoo Finance.
The former head of the Small Business Administration under Barack Obama hailed the arrival of the coronavirus stimulus package, but warned of catastrophic outcomes for a large number of American small businesses.
Read more...US Financial Assistance Package in the Works
The senate is working to finalize a reflief package to help Americans facing economic uncertainty due to Covid-19.
Senate Republican negotiators on Thursday rolled out a massive business assistance package, seeking to stave off a recession and soaring unemployment because of the coronavirus crisis.
Read more...
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