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SBA EIDL Program: Advances No Longer Available But Favorable Loans Still Being Granted

On July 11, 2020, the U.S. Small Business Administration (SBA) announced it would no longer be granting advances under the Economic Injury Disaster Loan (EIDL) program. The EIDL advance program provided small businesses, independent contractors, nonprofits, and agricultural businesses a total of $20 billion in emergency funding. See SBA Opens Up New Grants and Loans for Small Businesses And Independent Contractors: The EIDL Program. The EIDL advance program provided a $1,000 grant per employee o...
Tags: Personal Finance, Congress, Government, Sales, PPP, SBA, Financing & Credit, U S Small Business Administration SBA, Richard D Harroch, Richard Harroch, Jovita Carranza, Coronavirus, COVID, Economic Injury Disaster Loan, EIDL, EIDL loans


This early-stage VC says AI startup founders are more attuned than ever to the ethical issues surrounding the tech — but he says there's one critical shortcoming that must be addressed

Skeptics raised concerns for years about the potential ethical issues with artificial intelligence. Now, amid an historic civil rights movement in the US, the issue is getting new attention.  Tech giants like IBM and Amazon already said they will halt using facial recognition tools, software that has been shown to be discriminatory against Black people.  As action at the federal level remains stalled, one venture capitalist is calling for the industry to develop its own guidelines to govern th...
Tags: Google, Amazon, Microsoft, Congress, California, White House, China, US, Trends, Ibm, Rohit Sharma, Tech Giants, Sharma, Sharma Where


Google's home state of California launched a new antitrust investigation into the company. If you're confused by all the different Google investigations, here's the complete guide. (GOOG, GOOGL)

Google is preparing for a long antitrust summer as multiple investigations into its business come to a head.  CEO Sundar Pichai will testify in front of Congress later this month alongside the CEOs of Apple, Amazon, and Facebook. But Google is being probed by other investigations into its advertising and search practices, in the US and in Europe, and could be hit with lawsuits in the coming months. The array of investigations and regulatory actions can be confusing. So we've rounded up the var...
Tags: Google, Facebook, Mark Zuckerberg, Europe, Texas, Congress, California, Washington Post, Youtube, US, Alabama, Trends, European Union, Cnn, Mountain View, Fitbit


Changemakers: Scott Norman, VP Field Retail and Director Government Relations at Finance of America Reverse

Scott Norman’s career has taken him on a very unique trajectory from political aide to a Texas politician to one of the fiercest, most effective advocates for the reverse mortgage product category that the industry has fighting for it. Norman was instrumental in bringing the Home Equity Conversion Mortgage (HECM) for Purchase to the state of Texas for the first time, and also originated the state’s very first HECM loan. Beyond his activities that have centered largely on advocacy on behalf of...
Tags: Texas, Minnesota, Congress, Finance, Senate, Washington Dc, House, Medicare, Norman, Capitol, Steve Irwin, LBJ, Fannie Mae, FAR, Peter Bell, HECM


Google is gearing up for a summer of heated antitrust battles: Here's a guide to the various investigations and regulatory threats Google is facing (GOOG, GOOGL)

Google is preparing for a long antitrust summer as multiple investigations into its business come to a head.  CEO Sundar Pichai will testify in front of Congress later this month alongside the CEOs of Apple, Amazon, and Facebook. But Google is being probed by other investigations into its advertising and search practices, in the US and in Europe, and could be hit with lawsuits in the coming months. The array of investigations and regulatory actions can be confusing. So we've rounded up the var...
Tags: Google, Facebook, Europe, Texas, Congress, Washington Post, Youtube, US, Trends, European Union, Cnn, Fitbit, Department Of Justice, Doj, Wall Street Journal, Justice Department


Stop pretending Facebook can fix Facebook

Hello, everyone! Welcome to the new edition of Insider Today. Please sign up here. QUOTE OF THE DAY "This entire crisis would have played out so differently with leadership and a national plan from the federal government. If the Trump administration in January had started to stockpile PPE, get serious about testing, put together a plan, we would have far fewer deaths, far fewer people out of work, far fewer sick people."  — Rhode Island Governor Gina Raimondo, whose state is one of the few th...
Tags: Facebook, Hong Kong, New York, Minneapolis, Congress, Navy, California, Cdc, China, US, Trends, Bloomberg, Beijing, Xi Jinping, Arizona, Naya Rivera


Here are the 9 health-tech startups that got coronavirus stimulus loans to keep workers employed during the pandemic

The Paycheck Protection Program, created by Congress as part of a $2 trillion coronavirus bailout, helped small businesses stay afloat as they struggled economically during the pandemic.  Businesses were allowed to qualify for up to $10 million in loans.  On Monday, the Trump administration released the list of companies that borrowed most of the money. We spotted some applications from health-tech companies among their ranks, many of which are backed by venture capital firms.  Companies that ...
Tags: Congress, Trends, Food And Drug Administration, PPP, Khosla Ventures, Lumos, Zocdoc, Business Insider, Nomad, Sparks, Trump, HealthTap, Small Business Administration, SBA, Mayfield, Sarasota Florida


Reverse Mortgage Counselors: Clients More Informed, Resources Strained During Pandemic

Reverse mortgage clients appear to be better-prepared for their counseling sessions regarding their understanding of the reverse mortgage product category, a potential sign that the industry itself is doing an effective job of responding to the financial need that the COVID-19 coronavirus pandemic has created. However, it’s also more difficult to operate in this environment as resources for counseling agencies have been strained. This is according to counseling professionals from three separa...
Tags: Featured, Congress, Finance, United States, Cambridge, Conley, MMI, Boies, HECM, Counseling, Farmington Hills Mich, Jennifer Cosentini, Cosentini, Jackie Boies, Money Management International, Greenpath


Facebook removes political disinformation accounts linked to President Trump's longtime ally Roger Stone (FB)

Facebook removed disinformation accounts it says were linked to Roger Stone, the longtime friend of President Trump.  The accounts involved posted about "candidates in the 2016 primaries and general election, and the Roger Stone trial," Facebook said.  Facebook also removed networks that originated in Canada, Ecuador, Brazil, and Ukraine. Visit Business Insider's homepage for more stories. Facebook has removed disinformation accounts after an "investigation linked this network to Roger Stone ...
Tags: Facebook, Florida, Instagram, Congress, Russia, US, Trends, Ukraine, Fbi, United States, House, Wikileaks, Trump, Roger Stone, Stone, New York Times CNN


Skipped rent payments rise as tenants face financial cliff ahead

Two surveys show American renters continue to be under financial stress as pandemic-linked monetary help is coming to a possible end. The National Multifamily Housing Council’s found 77.4% of apartment households made a full or partial rent payment by July 6 in its survey of 11.4 million units in apartment complexes nationwide. That payment pace is down from 80.8% who had paid a month earlier and 79.7% a year ago. Apartment List’s most recent housing payments survey of 4,000 American rental hous...
Tags: Business, Real Estate, Congress, California, Housing, White House, Sport, Soccer, Rent, Moore, U S Census, Sam Moore, Doug Bibby, National Foundation for Credit Counseling, San Francisco 's Treasure Island, National Multifamily Housing Council


Skipped payments rise as renters face financial cliff ahead

Two surveys show American renters continue to be under financial stress as pandemic-linked monetary help is coming to a possible end. The National Multifamily Housing Council’s found 77.4% of apartment households made a full or partial rent payment by July 6 in its survey of 11.4 million units in apartment complexes nationwide. That payment pace is down from 80.8% who had paid a month earlier and 79.7% a year ago. Apartment List’s most recent housing payments survey of 4,000 American rental hous...
Tags: Business, Real Estate, Congress, California, Housing, White House, Sport, Soccer, Rent, Moore, U S Census, Sam Moore, Doug Bibby, National Foundation for Credit Counseling, San Francisco 's Treasure Island, National Multifamily Housing Council


Court: Some employers can refuse to offer free birth control on religious grounds

By JESSICA GRESKO WASHINGTON — The Supreme Court on Wednesday upheld Trump administration rules allowing some employers to decline to provide contraceptive coverage on religious or moral grounds, which could leave more than 70,000 women without cost-free birth control. The high court ruled 7-2 for the administration, which made a policy change to allow some employers who cite religious or moral objections to opt out of providing no-cost birth control required by the Obama-era healthcare law. Low...
Tags: Health, Business, News, Supreme Court, Obama, Congress, Washington, Russia, Religion, Court, Uncategorized, Sport, Soccer, Pennsylvania, New Jersey, Associated Press


10 things in tech you need to know today

Good morning! This is the tech news you need to know this Wednesday. Civil rights groups called their meeting with Facebook execs a 'disappointment' and said the company isn't ready to address the platform's 'vitriolic hate.' Facebook executives Mark Zuckerberg, Sheryl Sandberg, and Chris Cox "showed up to the meeting expecting an A for attendance," according to the groups. Apple is 'assessing' the human rights impact of Hong Kong's new national security law, but has not paused data requests f...
Tags: Apple, Facebook, Hong Kong, UK, London, Microsoft, Congress, Trends, Bloomberg, Facetime, Sundar Pichai, Sheryl Sandberg, Alexa, Peggy Johnson, US Department of Justice, T Mobile


Protective gear for medical workers begins to run low again

By GEOFF MULVIHILL and CAMILLE FASSETT The personal protective gear that was in dangerously short supply during the early weeks of the coronavirus crisis in the U.S. is running low again as the virus resumes its rapid spread and the number of hospitalized patients climbs. A national nursing union is concerned that gear has to be reused. A doctors association warns that physicians’ offices are closed because they cannot get masks and other supplies. And Democratic members of Congress are pushing ...
Tags: Health, Business, New York, Texas, News, Congress, Australia, Montana, Washington, White House, Massachusetts, New York City, Uncategorized, Sport, Ap, Chicago


Tim Cook, Mark Zuckerberg, Jeff Bezos, and Sundar Pichai are set to appear before Congress on July 27 in an antitrust hearing

Apple CEO Tim Cook, Amazon CEO Jeff Bezos, Alphabet CEO Sundar Pichai, and Facebook CEO Mark Zuckerberg will appear before the US House of Representatives on July 27. The hearing is part of the House Judiciary Antitrust Subcommittee's investigation into the dominance of large tech firms. The tech executives will be allowed to appear virtually for the hearing. The four big tech companies are also facing probes from the US Justice Department. Visit Business Insider's homepage for more stories. ...
Tags: Apple, Google, Amazon, Facebook, Mark Zuckerberg, Congress, Washington, US, Trends, Bloomberg, House, House Of Representatives, Tim Cook, Jeff Bezos, Sundar Pichai, Federal Trade Commission


6 takeaways from California’s small-business Paycheck Protection loans

From Silicon Valley startups to Gavin Newsom’s wine business, a rundown of who got what from the federal coronavirus business loan program. Organic farms, the governor’s winery group, a scooter startup and … Burning Man? The new list of California recipients of federal Paycheck Protection Program loans to ease economic fallout from the coronavirus is long, varied and sometimes bizarre. The Small Business Administration effort “to provide a direct incentive for small businesses to keep their ...
Tags: Apple, Business, Small Business, Congress, California, Government, San Francisco, Sport, Kanye West, Soccer, Treasury, Bird, Silicon Valley, San Jose, Airbnb, Michelin


Foreclosure Protection Bill Includes Reverse Mortgage Borrowers, Lacks Republican Support

A bill introduced into the United States House of Representatives seeking to prevent evictions, foreclosures, and unsafe housing conditions resulting from the COVID-19 pandemic includes reverse mortgage borrowers, and was recently passed in the House before being sent to the U.S. Senate. The bill, House Resolution (H.R.) 7301 known as the “Emergency Housing Protections and Relief Act of 2020,” was introduced into the House by Financial Services Committee Chairwoman Rep. Maxine Waters (D-Calif...
Tags: Featured, Congress, Finance, Senate, White House, Legislation, United States, House, House Of Representatives, The White House, Trump, Calif, U.S. Senate, OMB, Office of Management and Budget OMB, U.S. House of Representatives


Here’s a list of tech companies that the SBA says took PPP money

The U.S. Treasury Department released Monday a highly anticipated trove of data identifying every company that has received a loan of more than $150,000 from the Paycheck Protection Program (PPP) — a list that includes some of the hottest names in the tech startup world, including Bolt Mobility, Getaround, Luminar, Stackin, TuSimple and Velodyne. The data, which lists the names of companies that received small business loans over $150,000, was the result of a push for greater transparency around...
Tags: TC, Congress, Finance, Tech, Automotive, Bird, Morgan Stanley, PPP, Index Ventures, Citi, Trump, Small Business Administration, U S Treasury Department, SBA, LUMINAR, Y Combinator Research


Treasury names 650K small businesses receiving govt loans

WASHINGTON — The Treasury Department on Monday released the names of more than 650,000 small businesses that received funds from a government program intended to support the economy as states shut down in April to contain the viral outbreak.Treasury identified just a fraction of the total borrowers, naming only those companies that got more than $150,000. Those firms made up less than 15% of the nearly 5 million small companies that received loans.The average loan amount for the entire program w...
Tags: Business, News, Congress, Washington, New Hampshire, Treasury, Ohio, North Carolina, PPP, Concord N H, Treasury Department, COLUMBUS Ohio, Mike DeWine, SBA, Robin Vos, Sununu


Jeff Bezos' fortune just surpassed $171 billion. Here's how he built Amazon into a $1.4 trillion company and became the world's richest man. (AMZN)

Amazon CEO Jeff Bezos' net worth just reached a new high of $171.6 billion. Bezos founded Amazon in 1995. The company has since grown to one of the most valuable, powerful companies on the planet. Bezos has gone from a New York hedge-funder to the richest man in the world, but in the process, he's weathered a high-profile divorce and hacking scandal, faced antitrust scrutiny from lawmakers, and everything in between.  These days, Bezos is focused on making Amazon more climate-friendly, growing...
Tags: Google, Amazon, Elon Musk, New York, Texas, Instagram, Microsoft, Congress, Washington Post, Washington, Germany, New York City, Trends, Bloomberg, Iran, Intel


Jeff Bezos is reportedly now worth over $171 billion, more than he was worth before his divorce (AMZN)

Jeff Bezos' net worth has reached an all-time high of $171.6 billion, according to Bloomberg. The boost comes after Amazon's shares hit a new high of $2,878.70, pushing Bezos' fortune higher than it was before his divorce from MacKenzie Bezos. She received 25% of the couple's Amazon shares as part of the settlement.  Amazon has seen a surge in demand during the coronavirus pandemic, leading the company to hire thousands of workers and temporarily raise worker pay.  But the company has also fac...
Tags: Amazon, Elon Musk, Congress, Trends, Bloomberg, Jeff Bezos, Bezos, Oreal, AMZN, Bloomberg Bloomberg, Zoox, MacKenzie Bezos, Françoise Bettencourt Meyers, Billionaire Index Amazon


Tim Cook, Mark Zuckerberg, Jeff Bezos, and Sundar Pichai will all testify before Congress in an antitrust hearing

Facebook's Mark Zuckerberg, Google's Sundar Pichai, Apple's Tim Cook, and Amazon's Jeff Bezos will all testify before Congress in an antitrust hearing in late July. The news was confirmed by Democratic Rep. David Cicilline of Rhode Island. Zuckerberg, Pichai, and Bezos had all reportedly been confirmed by mid-June, although Zuckerberg and Pichai said they would only testify if Cook did too. Cicilline's comments suggest Cook has now agreed to attend. Visit Business Insider's homepage for more ...
Tags: Apple, Google, Amazon, Facebook, Mark Zuckerberg, Cook, Congress, Trends, Eu, Bloomberg, Tim Cook, European Commission, Department Of Justice, Jeff Bezos, Rhode Island, Sundar Pichai




After a staggering Wall St. rally, what’s next for stocks?

Catch your breath and stay hydrated, stock market investors. It’s only halftime, and the second half of 2020 could go either way. During the first six months of the year, stocks experienced their biggest quarter-to-quarter swing in more than 80 years. First, the coronavirus pandemic and an unprecedented shutdown of the economy sent stocks on one of the fastest declines on record. Then, giant helpings of government stimulus not only stopped the sell-off but sent stocks charging to their best quar...
Tags: Personal Finance, Business, Florida, New York, Texas, Congress, New York City, Sport, Soccer, United States, Credit Suisse, Republican, Federal Reserve, South, Trump, Fed


Amazon, Apple, Facebook and Google will testify before Congress in July

Big Tech's giants will be focus of an antitrust hearing
Tags: Apple, Google, Amazon, Facebook, News, Congress, Trends, Social Media, Amazon Apple Facebook, Breaking


Hong Kong is gone. It's over.

Hello, everyone! Welcome to the new edition of Insider Today. Please sign up here. QUOTE OF THE DAY "We are living in an Idiocracy." — Washington Post conservative columnist Max Boot bemoaning the stupidity of the Federal government's refusal to advocate ubiquitous mask wearing and thereby save 5% of GDP. WHAT'S HAPPENING Hong Kong police arrested more than 300 people protesting a new security law imposed by China. Police say nine arrests were under the new law, which criminalizes any spe...
Tags: Apple, Hong Kong, Florida, London, Obama, Congress, Colorado, Washington, Senate, White House, China, US, Trends, Georgia, Fbi, Harvard


VCs see much to like in Democrats’ $1.5 trillion Moving Forward Act

“The Moving Forward Act reads like a $1.5 trillion validation of our fund’s thesis — that upgrading cities and related infrastructure is key to fighting the existential threat of climate change and improving lives,” said Stonly Baptiste, co-founder and partner at venture capital fund Urban Us. Democrats in Congress are wrestling with the twin problems of mass unemployment and a long-delayed need to rebuild America’s crumbling infrastructure. Now, with just 124 days until the election, the party ...
Tags: TC, Congress, Washington, Government, Senate, America, Tech, Renewable Energy, Policy, Infrastructure, House, Venture Capital, Cleantech, Baptiste, Market Analysis, Rob Day


Savvy Business Owners Discover Brilliant Opportunities for Disaster Relief Funding

It is hardly news that many small business owners are struggling to stay afloat amidst the coronavirus crisis. Not only are consumers stuck indoors, unable to visit local brick-and-mortars, but many consumers are out of work or struggling financially for other reasons, causing them to behave much more frugally than they did even a couple of months ago. As a result, the U.S. government has passed a series of bills designed to help small businesses stay in business until the country returns to nor...
Tags: Business, Money, Congress, PPP, Right Now, U S Congress, Annie Qureshi, Paycheck Protection Program, Maintaining Utilities Offices


Where to get financial help during coronavirus in California

From hotel rooms for people who are homeless to restaurant meals for seniors isolating for their lives, California has rapidly expanded its safety net in an attempt to catch millions of residents impacted by the coronavirus and its economic aftershocks. In daily press conferences during the pandemic’s first months, Gov. Gavin Newsom announced new “first-in-the-nation” plans to protect vulnerable Californians from illness or financial distress at a dizzying pace. But months in, the pandemic safet...
Tags: Business, Congress, California, Fresno, Sacramento, America, Los Angeles, San Francisco, Sport, Soccer, Roseville, Michigan, Santa Clara, Rhode Island, Patterson, Gavin Newsom


Can’t find coins? They’re the latest in short supply amid pandemic

First, it was toilet paper and hand sanitizer. Those were among the first items to fly off the shelves as COVID-19 took hold, prompting stay-at-home orders and the closure of nonessential businesses. Then came the meat shortage, and a persistent lack of surface wipes. The latest commodity to come up short? Pocket change — the stuff we carry in pockets and wallets, stash in nightstands, jars and the niches in our cars. Banks around the U.S. are running low on pennies, nickels, dimes and quarters,...
Tags: Business, News, Congress, Sport, Economy, Soccer, Bank, Federal Reserve, Consumers, Wells Fargo, Fed, Rose, Jerome Powell, Bellevue Washington, Coinstar, Top Stories LADN



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