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United States: Pandemic Economic Stimulus: Legislative And Regulatory Developments As Of March 1, 2021 - Hughes Hubbard & Reed LLP

Last week, the Small Business Administration expanded the Paycheck Protection Program to provide greater access to small business owners.
Tags: News, United States, Small Business Administration, Legislative, Hughes Hubbard, Reed LLP


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


Covid relief loan recipient enjoyed $150k shopping spree, say cops

Police say someone in North Carolina lied to get a Covid relief loan, then headed to Nieman Marcus, Nordstrom and Louis Vuitton with the cash in hand. The release said Clifton applied in March for a Small Business Administration loan designed to provide relief to existing businesses harmed by pandemic shutdowns. — Read the rest
Tags: Post, Crime, News, Law, Fraud, North Carolina, Louis Vuitton, Clifton, Small Business Administration, COVID, Nieman Marcus Nordstrom


How to Get a PPP Loan for Your Small Business, Finally

President Biden today announced changes to the COVID-relief business loans program aimed toward the small and minority-owned businesses left out in previous rounds of aid. The changes make it easier to qualify, and includes an exclusive 14-day window for small business owners to apply for loans, starting Wednesday.…Read more...
Tags: Business, Small Business, Articles, Economy, Loans, Lifehacks, Biden, Payroll, Student Loan, Small Business Administration, Business Loan, Business Finance, Sole Proprietorship, CARES Act, 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 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


Gyms could receive up to $30 billion in pandemic relief with a new bipartisan House bill

Terry Sullivan, general manager of Fondren Fitness, a Jackson, Miss., fitness center, sanitizes a glutes workout machine, Thursday, May 14, 2020. Rogelio V. Solis/AP Photo Two US House of Representative members have introduced the Gym Mitigation and Survival (GYMS) Act. The act could provide up to $30 billion in relief for gyms and fitness facilities. Many facilities have closed during COVID-19 while at-home fitness companies have thrived. Visit the Business section of Insider for more sto...
Tags: Politics, Fitness, US, Trends, Pennsylvania, House, House Of Representatives, Gyms, Gym, Illinois, Small Business Administration, Fitzpatrick, Brian Fitzpatrick, Quigley, Mike Quigley, Peloton


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


Citizens Business Bank again ranks ‘best’ in America

CVB Financial Corp., the Ontario-based holding company for Citizens Business Bank, has been ranked the “Best Bank in America” for the second year in a row by Forbes magazine. It marks the fifth time the bank made Forbes’ list over the past six years, and the third time it topped the rankings. In establishing its “America’s Best Banks” listing, Forbes looked at 10 metrics related to credit quality, growth and profitability for all 100 of the largest publicly-traded banks in the nation. The listin...
Tags: Personal Finance, Business, La, Finance, Banks, America, Bank Of America, Sport, Soccer, Citigroup, Wells Fargo, Forbes, Ontario, Small Business Administration, JPMorgan Chase, Northern Trust


A Guide to Small Business Hiring

Small businesses all over the world create millions of jobs for talented people in various spheres. According to the Small Business Administration, small companies create 1.5 million jobs annually and account for 64 percent of new jobs in the U.S. However, the prospect of bringing new employees to the fold is often an exciting and challenging task at the same time. If you are an owner of a small business, you get frustrated because your hiring decision may affect your business productivity and o...
Tags: Business, Management, Right Now, Erika, Small Business Administration, Equip, Erika Rykun


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


Black market starting to emerge amid coronavirus vaccine shortages

People wait in line to receive the COVID-19 vaccine at Corona High School, a designated Riverside County vaccination center for people in Phase 1B, in Corona on Thursday, Jan. 14, 2021. (Photo by Watchara Phomicinda, The Press-Enterprise/SCNG) In Miami, priority access to COVID vaccines was dangled as a lure to big hospital donors. In New York, hospital workers laboring from home cut in front of their frontline colleagues on the COVID-19 vaccine line. In California, teachers at the wealthy Los...
Tags: New York, News, Congress, California, Sacramento, Los Angeles, Sport, European Union, Public Health, Canada, Soccer, United Kingdom, Medicare, Miami, Pfizer, Riverside County


The Trump administration gave more than $850,000 in PPP loans to prominent anti-vaccine groups

An anti-vaccination fundraiser. Scott Eisen/Getty Images Top anti-vaccine advocacy groups received PPP funding from the Trump administration, The Washington Post reported. American distrust in the safety of COVID-19 vaccinations continues to pose a threat to public health. K. "Vish" Viswanath, a professor of health communication at the Harvard T.H. Chan School of Public Health, told Insider that anti-vaccine groups are "likely to perpetuate the adverse impacts of the pandemic."  Visit Busi...
Tags: Politics, UK, News, Washington Post, US, Trends, Healthcare, The Washington Post, PPP, Pew Research Center, Trump, Misinformation, Joseph Mercola, Small Business Administration, Harvard T H Chan School of Public Health, NVIC


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


Biden Taps Women to Serve as Commerce Secretary and Lead the Small Business Administration

Rhode Island Gov. Gina Raimondo has been nominated to be commerce secretary, while Isabel Guzman will lead the Small Business Administration.
Tags: Management, Commerce, Biden, Rhode Island, Small Business Administration, Gina Raimondo, Isabel Guzman


‘Economic Lifeline To Small Businesses,’ Next Round Of PPP Loans On Their Way

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Tags: Small Business, America, Treasury, PPP, Treasury Department, Small Business Administration, SBA, Carranza, Steven T Mnuchin, Jovita Carranza, Around the Nation, COVID, Paycheck Protection Program, Paycheck Protection Program PPP, PPP loan, EULESS Texas CBSDFW


Restaurant job losses surged to 372,000 over the holidays in largest employment decline since April

A restaurant worker wears a protective face mask and gloves in midtown as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 13, 2020 in New York City. Noam Galai/Getty Images The restaurant and bar industry has shed over 2.4 million jobs since the coronavirus pandemic started. December job losses represent a dramatic increase from the 17,000 jobs lost by the restaurant and bar industry in November. Workers at restaurants and...
Tags: Congress, US, Trends, Joe Biden, Mit, Bureau of Labor Statistics, Nancy Pelosi, Federal Reserve, Biden, PPP, Treasury Department, Small Business Administration, Democratic House, Bureau of Labor Statistics The, Ruth Chris, United States Treasury Department


Here's who Biden has chosen for his heads of labor, commerce, and small business agencies

President-elect Joe Biden. Susan Walsh/AP President-elect Joe Biden named his nominations for three top economic roles in his administration. Biden nominated Rhode Island Gov. Gina Raimondo as his commerce secretary, Boston mayor Marty Walsh his labor secretary, and former Obama administration official Isabel Guzman his head of the Small Business Administration. If confirmed, Walsh would be the first union member to serve as labor secretary in nearly half a century. Visit Business Insider'...
Tags: Politics, Labor, Obama, Congress, California, Senate, Boston, US, Trends, Joe Biden, Commerce, New York Times, Biden, PPP, Rhode Island, Reuters


Biden reportedly set to pick R.I. Gov. Raimondo for Commerce

By Jeff Zeleny and Kate Sullivan | CNN President-elect Joe Biden is expected to nominate Rhode Island Gov. Gina Raimondo as commerce secretary, two people familiar with the matter say, in a round of Cabinet positions that could be announced on Friday. Raimondo is the first woman governor of Rhode Island, and has served in the role since her election in 2014. She was among the women considered to serve as Biden’s vice president, and has been praised for her leadership amid the coronavirus pandemi...
Tags: California, Boston, New York City, America, Bloomberg, Sport, Joe Biden, Cnn, Soccer, New York Times, Biden, Chamber of Commerce, Michael Bloomberg, Rhode Island, Health And Human Services, Guzman


United States: The SBA's Paycheck Protection Program – Congress Reopens The Paycheck Protection Program - Shearman & Sterling LLP

On December 27, 2020 President Trump signed the Consolidated Appropriations Act, 2021 ("the Act"). The Act reopens the Small Business Administration's (SBA) Paycheck Protection Program (PPP)...
Tags: News, Congress, United States, Trump, Small Business Administration, SBA, Sterling LLP, Paycheck Protection Program Shearman


Viewpoint: IGs Need More Resources to Combat COVID Stimulus Spending Fraud

Problems with the Small Business Administration’s pandemic loan programs illustrate the need for stronger oversight.
Tags: Oversight, Small Business Administration, Stimulus Spending Fraud


Billionaire Buffett urges Congress to extend PPP for small businesses

By Katherine Chiglinsky | Bloomberg Warren Buffett urged Congress to extend the Paycheck Protection Program to help the millions of small businesses that have become “collateral damage” in the fight against COVID-19. “We need another injection to complete the job,” Buffett, chairman and chief executive officer of Berkshire Hathaway, said in a CNBC interview Tuesday. “Congress is debating that right now, and I hope very much that they extend the PPP.” Buffett, 90, in some of his first public comm...
Tags: Business, Congress, California, Sport, Soccer, Treasury, Berkshire Hathaway, PPP, Berkshire, Cnbc, Buffett, Fed, Goldman Sachs Group Inc, Riverside, Small Business Administration, Solomon


What Jobs Your Business Needs To Be Outsourcing

Entrepreneurship is difficult. There are so many jobs to do, and it can be overwhelming at times. It’s enough to make one wonder why they even started the business in the first place. Though, there are solutions that can help to run a business effectively, without losing any sleep in the process. Outsourcing tasks in business is a way to relieve some of the headaches that running a business can bring. It allows the entrepreneur to return to the reason they opened the business. They can try lo...
Tags: Business, US, Sales, Customer Service, Small Business Administration, SBA, IT management, Manufacturing Manufacturing, Shipping and Logistics Shipping


Why did Atlanta Mayor Keisha Lance Bottoms turn down a position in Joe Biden's cabinet?

Is it that she wants to keep her political path separate and independent from Biden's or just that the offer wasn't good enough?Bloomberg reports:Bottoms had been rumored to be under consideration to be secretary of Housing and Urban Development or to head the Small Business Administration, a cabinet-level post. A reporter for the New Yorker said Friday she’d been offered the less prestigious role of ambassador to the Bahamas. The transition denied that report on Friday, and Taylor did again Sat...
Tags: Law, Atlanta, Joe Biden, Biden, Taylor, Bahamas, New Yorker, Small Business Administration, Housing and Urban Development, Ann Althouse, Keisha Lance Bottoms


Atlanta mayor Keisha Lance Bottoms says she declined a position in Biden's cabinet

In this July 17, 2019, file photo, Atlanta Mayor Keisha Lance Bottoms speaks during a Senate Democrats' Special Committee on the Climate Crisis on Capitol Hill. (AP Photo/Andrew Harnik, File) The office of Atlanta Mayor Keisha Lance Bottoms on Saturday told the Atlanta Journal-Constitution that she declined an offer to serve in the cabinet of President-elect Joe Biden. Her office also refuted rumors she had been offered an ambassadorship.  Bottoms, considered a rising star among Democr...
Tags: Politics, News, Minneapolis, Senate, Trends, Atlanta, Georgia, Joe Biden, Ohio, Capitol Hill, Biden, Martin Luther King Jr, Cabinet, Kamala Harris, Small Business Administration, Atlanta Journal Constitution


Gov. Newsom’s Companies Got $3 Million In Relief Loans

SACRAMENTO (AP/CBS13) — Companies affiliated with Gov. Gavin Newsom received nearly $3 million in federal loans created to help small businesses survive the pandemic, more than eight times the amount originally reported, according to newly released information from the U.S. government. According to new figures released last week, nine businesses tied to Newsom’s PlumpJack Group split the nearly $2.9 million in loans through the Small Business Administration’s Paycheck Protection Program. The gov...
Tags: Politics, News, Congress, Sacramento, San Francisco, Ap, Cbs, California Highway Patrol, Associated Press, Napa, Gavin Newsom, Moulton, Napa Valley, Squaw Valley, Small Business Administration, SBA


Holograms, hashtags and hand sanitizer: here's how the Whitney, Guggenheim, and other museums are dealing with the COVID-19 pandemic

Visitors queue in front of the Louvre during the reopening of the Paris museum after a 4-month closure. REUTERS/Charles Platiau Fine art museums around the world are finding new ways to engage patrons online, using social campaigns, video series, and online exhibits. Some fine art museums, including the Whitney, the Guggenheim, and SFMoMA, accepted millions in loans from the Paycheck Protection Program, according to data.  Museums that have remained open are using hand-sanitizer stations, ...
Tags: Google, Facebook, New York, London, California, US, San Francisco, Trends, Paris, Amsterdam, Tate Modern, Whitney, Istanbul, PPP, Louvre, Guggenheim


Where Can You Still Get Business Funding, During the Pandemic?

The COVID-19 pandemic, and perhaps more to the point, its related shutdowns and quarantines have had a massive impact on nearly every aspect of American life–including business. We all had to adapt – very quickly, in most cases – to the new realities of spending more time at home, even as our work and educational duties persisted. Working from home or taking classes virtually was a major change for a lot of us, and even those of us who weren’t self-employed or small business owners found themsel...
Tags: Business, Japan, Money, Virginia, America, Special, Michigan, Tim Allen, Detroit, Right Now, Small Business Administration, Consumers Credit Union, US Eagle, Trailhead Credit Union, Orange County North Carolina, EtiAmmos Shuttertock


Pennsylvania Dealer Group Accused of PPP Fraud, Extorting Cash from Staff

When the United States announced it would be offering payroll relief to the countless small businesses it impacted with government shutdowns intended to combat COVID-19 earlier this year, everyone breathed a sigh of relief into their mask. Unfortunately, the Paycheck Protection Program (PPP) became a confusing bureaucratic mess almost instantly. It wasn’t clear how companies […] The post Pennsylvania Dealer Group Accused of PPP Fraud, Extorting Cash from Staff appeared first on The Truth About C...
Tags: Government, Bailout, Pennsylvania, United States, Lawsuits, Autos, AutoNation, Automotive Industry, Loans, PPP, Small Business Administration, SBA, News Blog, Small Business Association, Dealer News, Hot Legal Action


Holograms, hashtags and hand sanitizer: here's how fine art museums are dealing with the pandemic - aided by stimulus efforts and wealthy backers

The "Mona Lisa" greets an empty hall at the Louvre museum in Paris. Benoit Tessier/Reuters Fine art museums around the world are finding new ways to engage patrons online, using social campaigns, video series, and online exhibits. Some fine art museums, including the Whitney, the Guggenheim, and SFMoMA, accepted millions in loans from the Paycheck Protection Program, according to data.  Museums that have remained open are using hand-sanitizer stations, timed entries, and one-way routes, co...
Tags: Google, Facebook, New York, London, California, US, San Francisco, Trends, Paris, Amsterdam, Tate Modern, Whitney, Istanbul, PPP, Guggenheim, Edward Hopper