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Nancy Santiago of Ureeka: Changes to PPP Should Help More Black and Brown Small Businesses Get Assistance This Time Around

Small business already know about the shortcomings of the first go around of the Paycheck Protection Program (PPP).  Where “small businesses” like Ruth Chris’ Steakhouse was able to get $20 million or so, while other real small businesses looking for $5,000 to just stay afloat were turned away. But with the new PPP round currently taking place, there’s renewed hope that companies left out of the first go around, especially black and brown businesses, will finally benefit from the program due...
Tags: Congress, Interviews, Sales, PPP, Lakers, Ruth, Brown, SBA, Chris Steakhouse, Brent Leary, Ruth Chris, Nancy Santiago, Ruth Chris Steakhouse, Nancy Santiago Community Impact Lead for Ureeka, PPP Brent Leary, Movement Equality and Inclusion


Still Waiting For PPP Funding? Here Are 3 Tips to Improve the Process

At long last, the second round of the Paycheck Protection Program (PPP) is well underway. Unfortunately, though, too many small business owners are still anxiously awaiting funding, despite applications opening 6 weeks ago. While changes to PPP this time around have worked well for some, pain points such as time consuming paperwork and a need for tax return information mean securing funding is still too difficult for the smallest small businesses. These businesses are the most financially vulner...
Tags: Business, Money, Paypal, PPP, Irs, Right Now, SBA, NAV, Gerri Detweiler, Kavaleuskaya Aksana Shutterstock, Nav PPP, Nav Business Banking Survey


PPP and other pandemic tax moves to make in March 2021

March 1 has arrived. Or, as some coronavirus pandemic weary wits have dubbed it, March 2.0 or March 366. Yes, we've been dealing with COVID-19 for a year now. And yes, the virus and its myriad disruptions continue. But the development of multiple vaccines and prospects for expanded distribution of the shots give us reason to hope that the coronavirus after-times are within sight. Another COVID-19 relief package, dubbed the American Rescue Plan, also is closer to reality. The House passed the me...
Tags: Taxes, Congress, Senate, United States, House, Agi, PPP, Irs, Don, Congressional, Internal Revenue Service, Small Business Administration, SBA, Tax Foundation, Biden Administration, COVID


United States: SBA Prioritizes Smallest Of Small Businesses In The Paycheck Protection Program - Proskauer Rose LLP

On Monday, February 22, 2021, President Biden announced changes to the Paycheck Protection Program (the "PPP") aimed at providing relief to particularly small businesses and promoting equitable...
Tags: News, United States, Biden, PPP, SBA, Paycheck Protection Program Proskauer Rose LLP


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


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


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


How to apply for aid if you've been affected by the winter storms in and around Texas

A Waco, Texas, resident clears snow from his driveway alongside his dog on February 17, 2021 as severe winter weather conditions over the last few days has forced road closures and power outages over the state. MATTHEW BUSCH/AFP via Getty Images FEMA, the USDA, and the SBA are offering relief to people living in disaster zones after last week’s storms. Here’s a guide to how to apply for government and non-governmental aid.  Visit the Business section of Insider for more stories. The devast...
Tags: Texas, Trends, Usda, Joe Biden, Fema, Accuweather, SBA, US Department of Agriculture, Waco Texas, Matthew Busch, Bread of Life Inc, Annabelle Williams, Getty Images FEMA, LoneStar Legal Aid a Texas legal organization, USA Small Business Administration, North Texas Mutual


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


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


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


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


SBA Ignite Seeks to Connect Small Business Owners with SBA Loans

Navigating through the SBA’s loan requirements can be confusing. Now there’s help. SBA Ignite is a new initiative. Small Business Trends contacted Ami Kassar, Chief Executive Officer, MultiFunding LLC, to find out more about SBA Ignite. “It’s a learning initiative, platform and combination of courses created by MultiFunding,” he says. “SBA Ignite educates small business owners about the SBA and its benefits.” How SBA Ignite Got Started Kassar explains, “We are always shocked by the lack of un...
Tags: Sales, Startup, United States, Philadelphia, PPP, SBA, Kassar, Ami Kassar, SBA Information, SBA Kassar


United States: Borrower Beware V: Prepare Your PPP Loan Forgiveness Questionnaire Before The SBA Asks For It, And Thoughtfully Identify The "Totality Of Circumstances" Supporting Your Necessity Certification - Hodgson Russ LLP

On October 26, 2020, the SBA published a notice seeking comments relating to the approval and use of various forms for review of Paycheck Protection Program (PPP) loans...
Tags: News, United States, SBA, Hodgson Russ LLP, Paycheck Protection Program PPP


Financial Challenges Startups are Facing and How to Overcome Them

Building your own company is interesting, but it can also be difficult, and it requires investment, lots of it. Finding funding is and always will be a challenge for any startup. However, having enough financial resources is critical to your company’s continued success.                                                                                                                               Why do most businesses fail? Because they can’t pay their bills. Therefore, having adequate financin...
Tags: Sales, Ap, ERP, Tips, Starbucks, SBA, CRA, Small Business Administration SBA, Angel Investors Angel, Venture Capital Venture, Credit Cards Your


Sitting on billions, Catholic dioceses collected $1.5 billion in COVID-19 taxpayer aid

When the coronavirus forced churches to close their doors and give up Sunday collections, the Roman Catholic Diocese of Charlotte turned to the federal government’s signature small business relief program for more than $8 million. The diocese’s headquarters, churches and schools landed the help even though they had roughly $100 million of their own cash and short-term investments available last spring, financial records show. When the cash catastrophe church leaders feared didn’t materialize,...
Tags: New York, News, Congress, Kentucky, Boston, Milwaukee, New York City, Church, Western, America, Los Angeles, Sport, Ap, Program, Chicago, Soccer


4 Small Business Lawsuit Statistics

When you think about opening your own business, lots of possible challenges immediately come to mind: intense competition, supply chain issues, finding the right marketing tactics, and many others. But there’s one other that’s much more relevant than you might realize: lawsuits. Across America, small businesses are sued every day, and the hit to a business’s bottom line can be hard or impossible to absorb. These four statistics will help open your eyes to the realities that small business owners...
Tags: Business, Money, America, Management, Jason, Right Now, Charleston South Carolina, Small Business Administration, BOC, SBA, National Center for State Courts, Jason O Leary, Small Business Lawsuit Statistics


EIDL Loan Programs Open to Eligible Small Businesses

CORRECTION: A previous version of this report indicated the SBA Advance program was re-opened but that is no longer available, according to the SBA. The Small Business Administration (SBA) has announced it has extended the Economic Injury Disaster Loan (EIDL) program portal to eligible businesses affected by the COVID-19 pandemic. Businesses can receive long-term, low-interest loans. This will help them recover from the disruptions that took place in their businesses. They can use the loan for ...
Tags: Congress, Washington, Sales, SBA, Small Business Administration SBA, Small Business News, COVID, EIDL, Economic Injury Disaster Loan EIDL


EIDL Loan and Advance Programs Reopen to All Eligible Small Businesses

The Small Business Administration (SBA) has announced it has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to eligible businesses affected by the COVID-19 pandemic. Businesses can receive long-term, low-interest loans and emergency grants. This will help them recover from the disruptions that took place in their businesses. They can use the loan for paying rent, mortgage, vehicle leases, payroll, and other bills. The second round of COVID-19 EIDL assistance a...
Tags: Congress, Washington, Sales, SBA, Small Business Administration SBA, Small Business News, COVID, EIDL, Economic Injury Disaster Loan EIDL


United States: The SBA's Paycheck Protection Program—Revenue Reduction Calculations Guidance Released - Shearman & Sterling LLP

On January 19, 2021 the Small Business Administration (SBA) issued frequently asked questions that address how to calculate revenue reduction and maximum loan amounts
Tags: News, United States, SBA, Small Business Administration SBA, Sterling LLP


More Than 60,000 PPP2 Loans Approved in First Week of Lending

The Small Business Administration (SBA) has announced that it has so far approved some 60,000 Paycheck Protection Program (PPP) loans in its first week since the second round of PPP2 relief was made available to small businesses. During the period from January 11 to January 17, 2021, over $5 billion in loans were provided through some 3,000 lenders. During the same period, PPP was able to provide access to community financial institutions that specialize in serving underserved communities. This...
Tags: Sales, Caa, PPP, SBA, Small Business Administration SBA, Small Business News, Paycheck Protection Program PPP


‘They should have done it earlier,’ says San Fernando Valley pub owner, as outdoor dining returns

Angela Marsden, owner of Pineapple Hill Saloon & Grill, in her restaurant’s outdoor dining area in Sherman Oaks, CA., Monday, January 25, 2021. (Photo by Hans Gutknecht, Los Angeles Daily News/SCNG) Angela Marsden, owner of Pineapple Hill Saloon & Grill, in her restaurant’s outdoor dining area in Sherman Oaks, CA., Monday, January 25, 2021. (Photo by Hans Gutknecht, Los Angeles Daily News/SCNG) Sound The gallery will resume in seconds Angela Marsden owns Pineapple Hill Saloon ...
Tags: California, Washington Post, Los Angeles, Sport, Soccer, House, Nancy Pelosi, Eric Garcetti, Gavin Newsom, Southern California, Santa Clarita, Los Angeles County, Woodland Hills, SBA, LA County, San Fernando Valley


United States: Paycheck Protection Program: SBA Issues Guidance On First Draw And Second Draw PPP Loans And Releases PPP Applications Pursuant To The Economic Aid Act - Sheppard Mullin Richter & Hampton

On January 6, 2020, the SBA published its 26th Interim Final Rule (the First Draw PPP IFR) and 27th Interim Final Rule (the Second Draw PPP IFR) with respect to the...
Tags: News, United States, Hampton, SBA, Mullin Richter


Over $5B in US small business relief loans approved in first week -SBA

The loans, which convert to grants if borrowers follow guidelines, went to 60,000 businesses via 3,000 lenders
Tags: Finance, US, Article, Reuters, FBN, SBA, Fbn/markets, Fox-business/markets, Fox-business/economic-indicators, Fox-business/small-business, Ee3da82c-370a-5a4a-91f2-5318a71563e8


United States: Small Business Administration Publishes Interim Final Rules For First Draw And Second Draw PPP Loans - Gibson, Dunn & Crutcher

Last week, the Small Business Administration (the "SBA") issued two interim final rules incorporating changes to the Paycheck Protection Program (the "PPP") prescribed by the Economic Aid...
Tags: News, United States, PPP, Small Business Administration, SBA, Gibson Dunn


Eastern Bank named #1 SBA Lender in MA for the 12th and in New England for the 11th year in a row

Boston, MA Eastern Bank has been named by the U.S. Small Business Administration (SBA) as one of the top lenders to small businesses for SBA 7(a) and 504 loans. Eastern Bank ranked as the No. 1 U.S. Small Business Administration (SBA) lender in Massachusetts for the 12th...
Tags: Massachusetts, Radio, New England, SBA, Eastern Bank, U S Small Business Administration SBA, Boston MA Eastern Bank


PPP Second Draw Details for Small Businesses

After two months of ongoing debate and negotiations, congress and President Trump signed a new stimulus bill which includes a second round of PPP loans. We at CFOshare took a peek at the PPP bill that passed congress December 21st, and here’s the details on what’s coming. Who can apply for PPP second draws? Fewer businesses will qualify for the second round of PPP funding. The following limitations will exist for any entity applying: Organizations must have experienced a 25% reduction in gros...
Tags: Hong Kong, Business, Money, China, PPP, Irs, Trump, Right Now, GAAP, People 's Republic of China, SBA, Food Service, LJ Suzuki, Kavaleuskaya Aksana Shutterstock


United States: SBA Extends 8(a) Program Terms By One Year - Bradley

On January 13, 2021, the Small Business Administration (SBA) issued an interim final rule to, among other things...
Tags: News, United States, SBA, Small Business Administration SBA


Second Round of PPP Loans Now Available

The second round of PPP funding has begun. Call it PPP2, if you will. And some banks started taking applications for the Paycheck Protection Program on January 11. The second round of PPP funding includes $284 billion, and $60 million of that is for businesses that didn’t get a loan the first time. PPP is a forgivable that’s designed to help struggling small businesses keep employees on their payroll through the coronavirus pandemic. If a borrowing small business spends the money it gets throug...
Tags: Congress, Sales, Donald Trump, Small Business Loans, PPP, SBA, Small Business Administration SBA, DepositPhotos, Paycheck Protection Program, First Draw PPP, Second Draw PPP, Microloan Intermediaries Only