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United States: SBA Change Of Control Guidance Does Not Work For Insolvent PPP Borrowers - Foley & Lardner

This article focuses on the recent "change of control" guidance issued by the SBA to its PPP lenders (the "Guidance") and, more specifically, how that Guidance affects insolvent PPP borrowers...
Tags: News, United States, PPP, Foley, SBA, Lardner


PPP rule changes help get loans to small minority-owned businesses: ‘I’m glad somebody saw the light’

Biden administration changes to the Paycheck Protection Program have boosted interest in the program and loan amounts to minority-owned Chicago businesses, including sole proprietors.
Tags: Chicago, Biden, PPP, Paycheck Protection Program


PPP loan changes helping small minority-owned Chicago businesses: ‘I’m glad somebody saw the light’

Biden administration changes to the Paycheck Protection Program have boosted interest in the program and loan amounts to minority-owned Chicago businesses, including sole proprietors.
Tags: Chicago, Biden, PPP, Paycheck Protection Program


JOIN US ON MARCH 2: How small businesses can master their taxes in 2021

Prager Metis; Butler-Davis; alliantgroup; Samantha Lee/Insider Want to know how to file your taxes as a small business owner? Sign up for our live event on March 2 at 1 PM EST/10 AM PST for a conversation with three tax experts. And submit questions to be asked here. Filing taxes might be a bit different for small business owners this year. Many businesses were greatly impacted by months of mandatory closures, lost essential revenue, civil unrest, government loans and grants, and layoffs....
Tags: Trends, PPP, Atlanta Ga, Samantha Lee, Butler Davis, Zerbe, Prager Metis, Jennifer Ortakales Dawkins, Robbin Caruso, US Senate Finance Committee Topics


So you got a PPP loan? Here's what that means for your state taxes

Forgiven PPP loans won't be taxed at the federal level, but many state legislatures have not yet decided whether to adopt or reject those tax breaks on state returns.
Tags: Cnn, PPP


Nearly 330 small business leaders call for $1.9 trillion stimulus relief package

Ralph Mercier, owner of Mercier's Salon, pauses from hanging up snowflakes in the window of his business in downtown Calais, Maine. Erin Clark/The Boston Globe via Getty Nearly 330 small business leaders signed a letter in support of Biden's $1.9 trillion stimulus. The package includes measures for small business, which has been decimated by the pandemic. PPP loans saved at least 1 million jobs, but small business overall is two-thirds the size of early 2020. Visit the Business section...
Tags: Congress, Trends, Mit, United States, Federal Reserve, Biden, PPP, Boston Globe, National Federation of Independent Businesses, Juliana Kaplan, Ben Winck, Paycheck Protection Program, Small Business for America, Ralph Mercier, Mercier s Salon, Calais Maine Erin Clark


Biden Changes PPP Loan Rules to Benefit the Smallest Small Businesses

President Joe Biden announced Monday that he’s putting in place new rules for the PPP loan program that gives exclusive access to it to Main Street mom-and-pop businesses. These smallest of small businesses, he said, haven’t gotten a fair shake at aid programs designed to help keep companies from going out of business during the pandemic. “Small businesses are getting crushed,” Biden said. “Since the beginning of this pandemic, 400,000 small businesses have closed. Millions more are hanging by ...
Tags: Maryland, Congress, White House, US, Sales, Joe Biden, Biden, PPP, Congressional, SBA, Nydia Velazquez, House Small Business Committee, Small Business News, US Small Business Administration, Individual Taxpayer Identification Number ITIN, COVID


Coronavirus aid: Paycheck Protection loans expand to smallest businesses

By Zeke Miller | The Associated Press President Joe Biden announced changes Monday to target more federal pandemic assistance to the nation’s smallest businesses and ventures owned by women and people of color. Biden says a lot of these mom-and-pop businesses “got muscled out of the way” by larger businesses seeking federal money in the early days of the pandemic. He said changes taking effect Wednesday will provide long overdue aid to these smaller enterprises that he says are being “crushed” b...
Tags: Congress, California, America, Sport, Joe Biden, Soccer, Associated Press, Biden, Pasadena, PPP, Southern California, Trump, Zeke Miller, Paycheck Protection Program


5 ways Biden just tweaked the PPP to help the smallest businesses survive

President Joe Biden speaks in the State Dining Room at the White House on February 5, 2021. Stefani Reynolds-Pool/Getty Images Biden made changes to the Paycheck Protection Program on Monday to ensure equitable access to small business relief. The changes included a 2-week period for only businesses with under 20 employees to apply to the program. The SBA will also work to ensure access to those with student loan debt and/or unrelated prior felony charges.  Visit the Business section of In...
Tags: Maryland, Congress, White House, US, Trends, Joe Biden, Biden, PPP, Small Business Administration, SBA, Paycheck Protection Program, Ayelet Sheffey, Depts of Treasury and Education


Biden reopening PPP to get loans to smallest businesses

The Biden administration is establishing a two-week window, starting Wednesday, in which only businesses with fewer than 20 employees can apply for the forgivable Paycheck Protection Program loans
Tags: Biden, PPP


Federal Court Allows Damage Claims To Proceed In N.C. Permit Case

Federal Court Allows Damage Claims To Proceed In N.C. Permit Case, iStock-884214706 U.S.A. –-(AmmoLand.com)- A U.S. District Court Judge in North Carolina has ruled that plaintiffs in a case challenging last year’s “temporary suspension” of accepting and processing pistol purchase permits allegedly due to the COVID-19 outbreak and state of emergency declared by Gov. Roy Cooper, may pursue damage claims and associated claims for declaratory relief and attorney’s fees. The case is known as Sta...
Tags: Guns, North Carolina, PPP, Federal Court, Kelly, Flanagan, Stafford, The Foundation, Gottlieb, Roy Cooper, Firearms Policy Coalition, Second Amendment Foundation, Gun Rights News, Second Amendment Foundation SAF, Alan M Gottlieb, Gerald Baker


Biden is changing PPP rules. For 2 weeks, only businesses with fewer than 20 employees can claim pandemic relief loans.

US President Joe Biden talks in The White House. Pete Marovich/Pool/Getty Images President Joe Biden is changing PPP rules so only businesses with fewer than 20 employees can claim loans. The temporary restriction will last two weeks from Wednesday.  Biden is expected to formally announce the changes on Monday. Visit the Business section of Insider for more stories. President Joe Biden will launch changes on Monday to the main US coronavirus aid program for small businesses to try to reach...
Tags: Congress, Senate, US, Trends, Joe Biden, Biden, PPP, Small Business Administration, SBA, Biden Administration, Paycheck Protection Program PPP, Kate Duffy Reuters, Pete Marovich


Biden changes PPP loan rules, only small firms can claim for 2 weeks

Biden's changes to the PPP loan rules are designed to ensure smaller companies aren't left behind financially, the White House said.
Tags: White House, Biden, PPP


FACT SHEET: Biden-Harris Administration Increases Lending to Small Businesses in Need, Announces Changes to PPP to Further Promote...

Small businesses account for 44 percent of U.S. GDP, create two-thirds of net new jobs, and employ nearly half of America’s workers....
Tags: America, PPP, Biden Harris


Biden administration to revise PPP small business loans to reach smaller, minority firms

U.S. President Joe Biden will launch changes to the main U.S. aid program for small businesses to try to reach smaller, minority-owned...
Tags: Joe Biden, Biden, PPP


Biden administration changes PPP rules to help reach the smallest businesses

The Biden administration announced several changes Monday to the Paycheck Protection Program in an effort to reach minority-owned and very small businesses that may have previously missed out on accessing loans to help weather the coronavirus pandemic.
Tags: Cnn, Biden, PPP, Paycheck Protection Program


Biden administration announces reforms to PPP to assist small businesses

The Biden administration announced Monday plans to deliver “equitable relief” to small businesses impacted by the coronavirus outbreak,...
Tags: Biden, PPP


In the News: Not Every Part of the $1.9 Trillion Biden Plan is a Home Run With Small Business Oowners

The struggle small business owners are facing and have been facing since the COVID-19 pandemic started seems like a never-ending nightmare. So the fact that most small business owners support the $1.9 trillion COVID Relief Plan shouldn’t come as a surprise to anyone. However, business owners don’t support the plan across the board. This article, Majority of Small Business Owners Support Biden’s $1.9 Trillion Recovery Plan – But Not All of It is part of this week’s roundup, which includes a rang...
Tags: Sales, House, Biden, PPP, Cnbc, SBA, Small Business Administration SBA, Small Business News, Economic Injury Disaster Loan EIDL, PPP Loan Fraud Exposed Check


In the News: Not Every Part of the $1.9 Trillion Biden Plan is a Home Run With Small Business Owners

The struggle small business owners are facing and have been facing since the COVID-19 pandemic started seems like a never-ending nightmare. So the fact that most small business owners support the $1.9 trillion COVID Relief Plan shouldn’t come as a surprise to anyone. However, business owners don’t support the plan across the board. This article, Majority of Small Business Owners Support Biden’s $1.9 Trillion Recovery Plan – But Not All of It is part of this week’s roundup, which includes a rang...
Tags: Sales, House, Biden, PPP, Cnbc, SBA, Small Business Administration SBA, Small Business News, Economic Injury Disaster Loan EIDL, PPP Loan Fraud Exposed Check


SIGN UP HERE: How small businesses can make the most of their taxes

Willie B. Thomas/Getty Want to know how to file your taxes as a small business owner? Sign up for our live event on March 2 at 1 PM EST/10 AM PST for a conversation with three tax experts. And submit questions to be asked here. Filing taxes might be a bit different for small business owners this year. Many businesses were greatly impacted by months of mandatory closures, lost essential revenue, civil unrest, government loans and grants, and layoffs. To find out what all these things mean ...
Tags: Trends, PPP, Atlanta Ga, Butler Davis, Zerbe, Willie B Thomas Getty, Jennifer Ortakales Dawkins, Robbin Caruso, US Senate Finance Committee Topics


‘It’s Not Enough’: Sacramento Small Businesses Weigh In On California COVID Relief Package

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Tags: Business, Politics, News, California, Local, Seen On, California News, Sacramento, Stockton, Cbs, Nevada County, PPP, Gavin Newsom, Murillo, Newsom, Sanjay Varshney


Morning Docket: 02.18.21

* A lawsuit has been filed over the name for Corona Hard Seltzer. Maybe they can resolve the despite by kicking back a few... [Chicago Tribune] * A California woman is accused of impersonating two lawyers and committing PPP loan fraud. Going to refrain from making a My Cousin Vinny reference here... [SF Gate] * A former Disney employee is accusing the company of bad accounting in a new lawsuit. Maybe they just lost track of their Star Wars money. [Orlando Sentinel] * The defense teams of t...
Tags: Law, California, Uncategorized, Disney, PPP, Chicago Tribune, Star Tribune, Orlando Sentinel, Vinny, Corona, My Cousin Vinny, Morning Docket, Hard Seltzer, George Floyd, Jurislab, Juris Lab


A year into the pandemic, Uber and Lyft drivers say gig companies are still failing them. They blame Prop 22.

Rideshare and food delivery drivers working for companies like DoorDash, Uber, and Instacart have complained the companies aren't providing PPE or pay for the time it takes them to properly clean their vehicles. Spencer Platt/Getty Images Uber and Lyft rideshare and food delivery drivers plan to protest Wednesday at Uber's headquarters. They say the companies won't provide PPE or pay them for the time it takes to clean their vehicles. San Francisco supervisor Matt Haney plans to propos...
Tags: Transportation, Lyft, Uber, New York, California, San Francisco, Trends, Retail, Rideshare, Instacart, PPP, Postmates, Gig Economy, Doordash, Working Conditions, San Francisco California


SBA Hits $200 Billion Milestone in EIDL Program for COVID Relief

At $200 billion, the COVID-19 Economic Injury Disaster Loan (EIDL) program has reached a noteworthy milestone. According to the Small Business Administration (SBA), to date, the EIDL program has provided U.S. small businesses, non-profits, and agricultural businesses this impressive sum. And the SBA says it is not done giving out the loans. To that end, the SBA announced the extension of EIDL to December 31, 2021. The extension is part of the bipartisan COVID-19 relief bill passed by Congress a...
Tags: Congress, Sales, Biden, PPP, Trump, SBA, Small Business Administration SBA, Small Business News, EIDL, Economic Injury Disaster Loan EIDL, Tami Perriello


Intensifying economic insecurity may threaten South Africa’s social cohesion

The country’s social fibre is under strain and one cannot help but feel that something will have to give The post Intensifying economic insecurity may threaten South Africa’s social cohesion appeared first on The Mail & Guardian.
Tags: Jobs, Opinion, South Africa, PPP, Growth, Openaccess, Pandemic, South Africa (country, COVID-19, Zondo commission of inquiry into state capture, Employment and Redistribution plan, Private public partnerships, the National Development Plan, the New Growth Path


United States: Deductions Available For Certain Expenses Paid With PPP Loan Proceeds - Dickinson Wright PLLC

In March, 2020, the CARES Act established the Paycheck Protection Program which provided loans ("PPP loans") to businesses meeting certain requirements.
Tags: News, United States, PPP, Paycheck Protection Program, PPP Loan Proceeds Dickinson Wright PLLC


If you got PPP loan, here’s what you need to know to file taxes

Can you deduct expenses paid with your Paycheck Protection Program loan funds? If your loan is forgiven, is it taxable income? Here are those answers and more.
Tags: PPP, Paycheck Protection Program


GoDaddy CEO: The second round of PPP loans will help the smallest businesses. But more needs to be done

When the federal government announced the Payroll Protection Program a few months after the pandemic began in 2020, many microbusiness owners -- those with just one to 10 employees -- assumed they'd have little problem securing one of the interest-free loans. Many of them were disappointed.
Tags: Godaddy, Cnn, PPP, Payroll Protection Program


Thano Fatsis' beloved NYC diner is on the brink of closure - simply because it's on the wrong side of the street

Thano Fatsis, the 41-year-old owner of Triple Crown Diner in Bellerose, Queens, has been unable to serve customers indoors for months - unlike eateries right across the street that are technically located in Long Island. Matthew Cronin for Insider Triple Crown Diner is a local fixture in Bellerose, Queens, at the outer limits of New York City. Across the street, in suburban Long Island, restaurants enjoy looser restrictions on indoor dining. Owner Thano Fatsis takes us inside his diner's s...
Tags: New York Post, Real Estate, New York, Small Business, Restaurants, New York City, Trends, Queens, Manhattan, Bill De Blasio, World Trade Center, Andrew Cuomo, PPP, Long Island, Nassau County, Diners


In the News: How will the Biden Administration Affect You as an Employer?

With just under a month under its belt, the Biden administration is implementing policies that will affect your small business. Becoming aware of how these policies will affect you is one way to avoid some of the pitfalls that might come your way. In this week’s roundup, What Workplace Changes Can Employers Expect Under the Biden Administration? one of the articles that looks at the coming changes. According to David Barron, a labor and employment attorney with the national firm of Cozen O’Conn...
Tags: Facebook, Instagram, US, Sales, Paypal, Biden, PPP, Barron, SBA, David Barron, Cozen O Connor, Vistaprint, Small Business News, Ami Kassar, Small Business Radio Show, Black History Month Facebook